G.O.A.T Manufacturers acquires way of life agency Chumbak for undisclosed quantity

D2C model G.O.A.T Model Labs mentioned on Thursday it has acquired Chumbak, a house and way of life agency, for an undisclosed quantity alongside 4 different brands.

G.O.A.T didn’t disclose the opposite brands it has acquired because the offers raised its portfolio to twenty. The corporate mentioned in a press release it plans to make Chumbak a Rs-500 crore firm by 2025, utilizing model constructing, digital advertising and worldwide enlargement. It’s in superior talks with 8-10 different D2C brands.

“Chumbak, since its founding days, has been an Indian homegrown D2C model that appeals to a world viewers. Our imaginative and prescient is to make Indian D2C manufacturers world well-known and now we have constructed a number of capabilities for that. This partnership is the proper recipe to develop the model exponentially by increasing its international attain, each on-line and offline, by a tech and data-driven strategy,” mentioned Rishi Vasudev, CEO and co-founder of G.O.A.T.

G.O.A.T, final 12 months, acquired The Label Life, a celebrity-styled way of life model, and trueBrowns, a premium ethnic put on model. The 2 companies have grown ten-fold since their partnership with G.O.A.T., mentioned the corporate.

G.O.A.T mentioned it raised $50 million in a funding spherical a couple of months again and it’s backed by Tiger World, Flipkart, Mayfield, Winter Capital, Nordstar, and Higher Capital.

Vivek Prabhakar and Shubhra Chadda, co-founders of Chumbak, mentioned: “We consider G.O.A.T Model Labs is the best associate for the subsequent part of Chumbak’s development globally. GOAT’s experience in constructing on-line manufacturers mixed with Chumbak’s nice design & product power will assist speed up our development as a strong and international model within the Dwelling and Gifting area.”

Vasudev and Rameswar Misra based G.O.A.T Model Labs in 2021 to work with model founders and given them assets to scale up.

Another manufacturers in G.O.A.T’s portfolio embody Pepe InnerFashion, Abhishti, Neemli Naturals, NutriGlow, Voylla, and Pet Crux.