Chumbak & Four Other D2C brands Become a Part of G.O.A.T Brand Labs
G.O.A.T Brand Labs is all set to grow Chumbak to an INR 500 crore brand in the next three years. Plans to announce the names of the other four brands, one at a time, in the coming days.
G.O.A.T Brand Labs announces the acquisition of 5 D2C brands, including that of Iconic Home & Lifestyle Brand – Chumbak. With these acquisitions, the size of G.O.A.T Brand Labs’ portfolio reaches 20.
Chumbak is a brand with unique Indian aesthetics with a wide base of loyal consumers. The brand has strong sales on both online and offline channels. G.O.A.T Brand Labs plans to grow Chumbak to INR 500 Cr by 2025, leveraging its deep capabilities in brand building, digital marketing, online and offline growth and expansion into international markets.
Last year G.O.A.T Brand Labs acquired multiple well-known D2C brands including The Label Life, India’s top celebrity-styled brand, and trueBrowns, a premium ethnic wear brand; both of which have grown ~10x since their partnership with G.O.A.T. Brand Labs. The addition of these 5 brands further strengthens its portfolio of fast growing Fashion & Lifestyle Brands. Having raised a round of USD 50 mn a few months back and backed by marquee investors – Tiger Global, Flipkart, Mayfield, Winter Capital, Nordstar, and Better Capital, G.O.A.T Brand Labs will continue to invest in these brands to make them leaders in their respective categories.
Speaking on Chumbak’s acquisition, Rishi Vasudev, CEO & Co-founder, G.O.A.T Brand Labs, said, “We are excited to have Chumbak joining us this year. 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. 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.”
Vivek Prabhakar & Shubhra Chadda, Co-founders, Chumbak, added, “We are thrilled to welcome G.O.A.T to the Chumbak family. We believe G.O.A.T Brand Labs is the ideal partner for the next phase of Chumbak’s growth globally. GOAT’s expertise in building online brands combined with Chumbak’s great design & product strength will help accelerate our growth as a powerful and global brand in the Home and Gifting space.”
Rishi Vasudev and Rameswar Misra founded G.O.A.T Brand Labs in May 2021. G.O.A.T works collaboratively with the brand founders and empowers them with the right resources to help scale their brands. It empowers the brands with strong operational capabilities and supports growth by providing data-driven insights, supply chain expertise, financial planning, and deep expertise in brand building, digital marketing, product development, etc. G.O.A.T has emerged as the leading aggregator in the fashion and lifestyle space and is currently in advanced talks with 8-10 other D2C brands.
Some of the brands in G.O.A.T Brand Labs’ portfolio include – The Label Life, TrueBrowns, Pepe InnerFashion, Abhishti, Neemli Naturals, NutriGlow, Voylla, Pet Crux, etc.