On 9 January 2024, mCaffeine introduced an employee stock ownership plan (ESOP) for its hard-working team. This means that 10 per cent of the company’s shares are now reserved for employees. This way, the staff gets to be a part of the company’s success and growth.
The company, founded by Vikas Lachhwani and Tarun Sharma in October 2016, is a brand that adds caffeine to personal care products. Currently, it has a team of over 600 people and since the beginning of the brand, approximately 12 per cent of the team members are still with mCaffeine.
The ESOP is a way to appreciate and reward employees who have shown strong dedication to the mCaffeine brand, according to the company’s official statement. As a gesture of gratitude, the company will grant ESOPs to employees across seven different departments.
The company expressed its excitement about this move, stating that with more than 50 per cent of employees qualifying for ESOPs, it’s a fantastic gift for its valued team members as they step into the new year. The ESOP scheme is seen as a pathway to growth for both employees and the brand, creating opportunities for a shared and brighter future.
