FMCG major Emami Ltd on Thursday announced entry into the pet care industry by acquiring a 30 per cent stake in a startup at an undisclosed sum.
However, the company clarified that it is not into the pet food segment, the main revenue churner in the multi-billion dollar industry.
Emami said it has taken a 30 per cent stake in Cannis Lupus Services India, the owner of the brand Fur Ball Story .
With rising disposable income, more people are getting house pets, especially dogs. They are also looking for the best treatment for common ailments faced by their pet children, especially in the form of ayurvedic and herbal remedies, Emami Vice-Chairman & Managing Director Harsha V Agarwal said.
Fur Ball Story' offers unique ayurvedic products for the well-being of pets and meets the emerging consumer needs and aspirations, he said in a statement.
The company has not elaborated any further detail.
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