Brands
Havas Media bags media duties of Muthoot Pappachan Group
MUMBAI: Havas Media India has bagged the integrated media duties of Muthoot Pappachan Group (MPG), a leading financial services conglomerate along with business ventures in various other domains. The account size is estimated to be upwards of Rs 50 crores and will be handled out of the Bangalore and Cochin office led by Havas Media India Vice President of South Saurabh Jain.
Founded in 1887 by Muthoot Ninan Mathai, Muthoot Pappachan Group (MPG) is an Indian business house headquartered in Trivandrum, Kerala. It encompasses several businesses, including financial services, automotive dealerships, hospitality, real estate, information technology, precious metals and alternate energy and others. Counted among India’s largest non-banking financial services companies (NBFC) with total assets under management equivalent to over Rs 8,000 crore as of 31 March 2017, Muthoot Fincorp, the group’s flagship company, operates country wide with a network of over 3500 branches with over 50,000 customer walk-ins every day. Besides the financial services super house, Muthoot Fincorp, the group comprises a housing finance subsidiary Muthoot Housing Finance, publicly traded two-wheeler financing arm Muthoot Capital Services, micro finance company, Muthoot Microfin, and insurance broking firm Muthoot Risk and Insurance Broking Services, are among the other non-financial business units.
Muthoot Pappachan Group’s group Chief Marketing Officer Sanjeev Shukla says, “Being a legacy company, it is paramount that we maintain our reputation that has been shaped over decades with high quality practices towards helping ordinary men and women fulfil their dreams, while adopting and preparing ourselves for the next generation. Havas’ agility and consumer-centric approach has made us believe that they are the right partner for us. We hope this partnership takes the brand to newer heights and towards meaningful growth.”
Havas Media Group, India and South Asia CEO Anita Nayyar mentions, “We are excited to kick start the year with a legacy brand like Muthoot. Being in a highly regulated domain, consumer trust and transparency will be at the core of Muthoot’s marketing strategy. With this win, we have strengthened our operations in the South and are aiming to expand our footprint. We look forward to a meaningful association and to add to the relationship of belief and trust with customers that Muthoot has built since 1887.”
“Spanning 131 years in the field of business, Muthoot Pappachan Group has grown to become a significant entity in the Indian business landscape that thrives on consumer-centricity and innovation. At play will be Havas Media Group’s integrated media skills centered on digital and our ‘Meaningful Brands’ framework which will together map the brand chart for Muthoot. According to our research, brands that are meaningful enjoy 64 per cent higher trust among consumers in the finance industry. We are excited to take on the first mandate for 2018,” adds Havas Media Group India Managing Director Mohit Joshi.
Brands
Nykaa eyes majority stake in Deepika Padukone’s 82°E brand
Deal could help scale premium label as Nykaa sharpens its beauty play
MUMBAI: Nykaa is in advanced discussions to acquire a majority stake in 82°E, the premium skincare label founded by Deepika Padukone, according to media reports.
The proposed deal signals Nykaa’s intent to deepen its House of Nykaa portfolio while giving 82°E the scale it has struggled to achieve independently. Padukone is expected to retain a minority stake if the transaction goes through.
For Nykaa, the play is both strategic and timely. With a customer base of over 42 million, the company is betting on its strong distribution, logistics, and repeat purchase ecosystem to revive the brand’s momentum. The two sides already share a working relationship, with Padukone serving as Nykaa’s global brand ambassador since September 2025.
Launched in late 2022, 82°E entered the market with a premium positioning but has faced headwinds. The brand reported revenue of Rs 14.7 crore in FY25, down 30 per cent year on year, alongside losses of Rs 12.26 crore. Industry observers have pointed to steep pricing, a somewhat diffused brand identity, and intense competition from digital-first labels as key challenges.
The potential acquisition also reflects a broader shift in India’s beauty and lifestyle space, where celebrity-led brands are increasingly partnering with larger corporates to unlock scale. Alia Bhatt’s Ed-a-Mamma, for instance, sold a majority stake to Reliance Retail, while Katrina Kaif’s Kay Beauty has emerged as a standout success within Nykaa’s portfolio, clocking Rs 132.4 crore in FY25 revenue.
Nykaa itself has been on a strong growth trajectory. Its parent, FSN E-Commerce Ventures, reported a 156 per cent jump in net profit to Rs 68 crore in the December 2025 quarter, with revenue reaching Rs 2,873 crore.
Nykaa has been steadily building its portfolio through acquisitions such as Dot & Key, Earth Rhythm and Nudge Wellness, signalling a clear push to own and scale homegrown brands.
If the 82°E deal materialises, it could mark a fresh chapter for the label, blending celebrity appeal with corporate muscle. For Nykaa, it is another calculated step in staying ahead in an increasingly crowded beauty aisle.
