FMCG major Godrej Consumer Products Ltd (GCPL) has formally completed its Rs 450-crore acquisition of Muuchstac, strengthening its play in the fast-growing male grooming category. The founders of Muuchstac Vishal Lohia and Ronak Bagadia will continue leading the brand under GCPL’s umbrella.
Founders to Continue Leading Operations
GCPL Managing Director and CEO Sudhir Sitapati confirmed the development on LinkedIn, noting that Muuchstac’s promoters will remain “in the driver’s seat” while GCPL provides scale and strategic backing. Sitapati also invited recommendations for other “new-age, high-quality D2C brands,” signalling GCPL’s intent to expand its digital-first FMCG portfolio.
A High-Return Exit Backed by Strong Numbers
Muuchstac, founded in 2017 by two entrepreneurs from Bhayander, has seen exceptional growth. Sitapati revealed that the deal delivered a 15,000x return to its founders, with the brand scaling from Rs 3 lakh in founder capital to a profitable, rapidly growing business.
The turning point came in 2023 when Muuchstac Face Wash began gaining strong organic traction. The founders pivoted their focus entirely to this single SKU, which today accounts for 90% of the brand’s revenue. The face wash has become the #2 online men’s face wash brand and is estimated to be #3 overall including offline players.
Profit-Driven, Marketing-Light Model
A key factor in Muuchstac’s appeal is its lean, profitable growth strategy. The company relies solely on micro-influencer and organic content, with no spend on TV ads or performance marketing. It has been profitable every year since inception, funding all expansion through operational earnings.
GCPL Expands Its D2C Portfolio
The acquisition aligns with GCPL’s strategy to deepen its presence in high-margin, fast-growing categories. Muuchstac is expected to cross Rs 80 crore in revenue within months, with a standout EBITDA of Rs 30 crore, numbers that Sitapati said prompted GCPL to “look closer” at the opportunity.
GCPL is expected to accelerate Muuchstac’s scale while maintaining the brand’s focused, efficient operating model.
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