Sirona Hygiene Acquires Sexual Wellness Company Bleu In An All Cash Deal
In an all-cash agreement, Sirona Hygiene, a femtech company backed by the Good Glamm Group, acquired the Hyderabad-based vegan condom brand, Bleu, making its onset into the sexual wellness space, in line with the femtech brand’s goal of offering an ecosystem of feminine care.
Bleu is the second all-cash acquisition agreement of Sirona Hygiene in a year, after acquiring 'Impower', a pepper spray brand. Backed by the Good Glamm Group, Sirona Hygiene supplies female hygiene products such as menstrual pain relief patches, period stain remover, menstrual cups, and more.
Sirona will close revenue of INR 100 crore in FY23 and anticipates reaching INR 500 crore in the next two years. The company is to implement an omnichannel scale strategy for both offline and online shopping. Good Glamm Group, evaluated at $1.2 billion today, invested INR 100 crore in Sirona Hygiene two years ago. The group has interests in consumer goods and content creation.
Bleu provides sexual wellness products such as non-toxic condoms and through this acquisition, the brand is expected to scale up and continue to occupy the niche it has formed in the feminine wellness market.
Previously this year, the group signed a joint venture agreement with actor Akshay Kumar to release grooming and wellness goods for men.
“With this acquisition, we add India’s first vegan condoms to our portfolio. Condoms have traditionally been targeted toward men. However, Bleu condoms talk to women, which is what caught our attention”,states Deep Bajaj, Founder of Sirona.
The other mainstream players in this segment include of brands such as Manforce by Mankind Pharma, Kamasutra by Godrej Consumer Products, and Durex by Reckitt Benckiser.
