Mumbai: Godrej Consumer Products Limited (GCPL) has acquired men’s grooming brand Muuchstac in a ₹450 crore transaction, marking one of the most notable D2C exits in the segment. The acquisition brings into GCPL’s portfolio a high-growth, profitability-driven digital-first brand that has rapidly scaled with minimal capital infusion.
Founded in 2017 by Bhayander-based entrepreneurs Vishal Lohia and Ronak Bagadia, Muuchstac began as a small grooming venture but witnessed a significant pivot in 2023 when its Face Wash SKU emerged as a breakout product. The single SKU now contributes nearly 90% of the brand’s revenue and has grown to become the second-largest men’s face wash brand online and likely the third-largest overall, including offline channels.
Despite operating without television advertising, performance marketing, or large-scale promotions, Muuchstac has built a high-engagement consumer base through a micro-influencer-driven model focused purely on organic content. The brand is on track to achieve revenue of around ₹80 crore with a strong EBITDA of ₹30 crore—metrics that have drawn the attention of strategic investors.
The company’s remarkable growth has been achieved with an initial capital outlay of just ₹3 lakh, after which operations were entirely funded through internal profits. The acquisition offers the founders an over 15,000x return, underscoring one of the most successful bootstrapped journeys in the D2C ecosystem.
As part of the agreement, founders Vishal and Ronak will continue to lead Muuchstac under GCPL’s ownership. With access to GCPL’s distribution, manufacturing, and brand-building capabilities, Muuchstac is expected to scale significantly in the coming years.
The deal strengthens GCPL’s position in the fast-growing male grooming category and highlights the company’s strategy of expanding its presence in high-potential D2C brands with strong unit economics.
