Mcaffeine launches esop programme for employees

Mumbai-based direct-to-consumer (D2C) personal care brand Mcaffeine has launched employee stock ownership plan (ESOP) for its employees.

Under this initiative, the brand will allocate 10 percent of its shares to its employees allowing them directly to benefit from its growth.

The ESOP scheme is designed to reward employees who have displayed unwavering commitment to the brand.

Eligible employees across seven different verticals within the industry will be beneficiaries of this ESOP scheme.

Commenting on the initiative, Tarun Sharma, co-founder CEO of Mcaffeine in a statement said, “With over 50 percent employees eligible for the ESOPs, we couldn’t think of a better gift for our beloved caffeinators as we enter a new year. The ESOP scheme opens a new growth avenue for employees and the brand alike, hence creating opportunities for a collective and brighter tomorrow.”

Mcaffeine had reported 300 percent growth in its offline retail operations last year and plans to continue to focus on the brick-and-mortar market to fuel growth. The business is eyeing profitability in the segment in the final quarter of the current fiscal year.