Goat Brand Labs, Direct-to-consumer (D2C) brand aggregator, acquired home and lifestyle brand Chumbak for an undisclosed amount.
It has also acquired four other direct-to-consumer (D2C) brands, taking its portfolio to a total of 20, the company said in a press release on Thursday. The company, however, did not name the other four names in its prepared statement.
“Chumbak, since its founding days, has been an Indian homegrown D2C brand that appeals to a global audience. Our vision is to make Indian D2C brands world famous and we have built multiple capabilities for that,” said Rishi Vasudev, CEO & Co-founder, G.O.A.T Brand Labs. “This partnership is the perfect recipe to grow the brand exponentially by expanding its global reach, both online and offline, through a tech and data-driven approach.”
Flipkart Ventures and Tiger Global backed, Goat plans to grow Chumbak to Rs 500 crore by 2025, leveraging its deep capabilities in brand building, digital marketing, online and offline growth and expansion into international markets.
Published 12 January 2023, 10:31 IST