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Godrej Consumer acquires Muuchstac for Rs 450 Crore, eyes more high-margin D2C brands
GCPL Managing Director and CEO Sudhir Sitapati said Muuchstac founders Ronak Bagadia and Vishal Lohia will continue to lead the business. He also indicated that GCPL is scouting for more new-age, high-margin D2C brands.
GCPL buys men’s grooming brand Muuchstac.
Godrej Consumer Products Ltd (GCPL) has completed the acquisition of men’s grooming brand Muuchstac in a Rs 450-crore deal.
In a LinkedIn post, GCPL Managing Director and CEO Sudhir Sitapati said Muuchstac founders Ronak Bagadia and Vishal Lohia will continue to lead the business. He also indicated that GCPL is scouting for more new-age, high-margin D2C brands.
"If anyone knows of a new-age D2C business with numbers as good as this one, please write a comment or DM me," Sitapati wrote.
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According to Sitapati, Muuchstac,founded in 2017, scaled its business to about Rs 10 crore in 2023. He added that Muuchstac Face Wash accounts for nearly 90% of the brand’s revenue, achieved without TV advertising or performance marketing, relying entirely on a micro-influencer–driven model.
“Muuchstac Face Wash is the number two player in men’s face washes online. Even including offline, it is likely the number three player in the overall market,” he said.
Sitapati further noted that after the founders invested the initial Rs 3 lakh in 2017–18, the company has not lost money in a single year. Their total capital outlay remains Rs 3 lakh, with all subsequent growth funded through operational profits.
Earlier this month, GCPL informed stock exchanges that it would acquire Muuchstac via a slump sale from Trilogy Solutions Pvt Ltd.
Muuchstac posted revenue (Ind AS) of approximately Rs 80 crore and an adjusted EBITDA of around Rs 30 crore for the 12 months ending September 2025.
In its stock exchange filing, GCPL said the acquisition will deliver strategic and financial benefits, especially within the fast-growing men’s grooming category.
The Indian facewash market, estimated at Rs 6,000–7,000 crore, is expanding 15–20% annually, driven by rising skincare awareness and a shift from soaps to specialised formats. The men’s facewash segment—valued at about Rs 1,000 crore—is growing at over 25% a year, making it one of the fastest-growing categories in personal care.
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