India’s fast-moving consumer goods (FMCG) sector is entering a new phase of strategic expansion, with established companies increasingly acquiring direct-to-consumer (D2C) brands. According to Crisil Ratings, nearly two-thirds of mergers and acquisitions over the past five years have targeted D2C players, which have consistently outpaced traditional firms in growth. This acquisition wave reflects a drive toward premiumisation, diversification, and sharper consumer insights.