ITC Ltd has acquired a minority stake in an ayurvedic and natural personal care start up, deepening the company’s engagement in the fast growing direct-to-consumer (D2C) segment.

The company spent Rs 20 crore for the 16 per cent stake in Mother Sparsh, which has a wide range of baby and mother care products.

This investment is in line with the ‘ITC Next’ strategy, articulated by chairman Sanjiv Puri, which aims to build a future ready organisation with a digital first culture.

Mother Sparsh recorded a revenue of Rs 15.44 crore in 2020-21.

Sameer Satpathy, chief executive, personal care products business, ITC, said: “We believe that this investment provides an exciting opportunity which is in alignment with our aspiration to have a significant play both in the naturals and ayurvedic segment as well as in the D2C channel.”