Bengaluru based The Goat Brand Labs picks up stake in Pepe Jeans Innerfashion
- ByTejika Bajaj | December 9, 2021
E-commerce roll-up firm the Goat Brand recently signed an agreement to acquire the lifestyle brand Pepe’s stake in its India business which is housed under the name Pepe Jeans Innerfashion Ltd. The Indian chain of Pepe is a result of the joint venture between Kolkata based Dollar Industries and Pepe. Following this acquisition, Pepe Jeans Innerfashion would be operated collaboratively by Goat Labs and Dollar Industries.
With a new partner in place, Goat Labs aims to diversify the product offerings of Pepe and acquire more brands in the same space. Bengaluru-based Goat Brand is said to have bought Pepe’s stake for about Rs 15-20 crore and the new licensing for India would be valid for two decades. The company will look to tap into the expertise of Dollar Industries to acquire early stage D2C (direct-to-consumer) brands.
A statement by Goat Brand revealed that Pepe had offered to exit from the India unit asking Dollar to buy out all the stakes that belonged to Pepe which as per their original agreement would grant the latter the right of first offer (ROFO) . However, Dollar subsequently agreed to transfer the shares held by Pepe to Goat Brand.
Commenting about the recent acquisition, the co-founder and CEO of Goat Brand, Rishi Vasudev said, “The innerwear market has always been a focus category for us. Along with Dollar Industries Limited, we plan to create an extensive offline and online presence for the brand and add more brands in the future to our portfolio. The current focus of the firm is to build and scale up its online presence and it will explore setting up stores later in the future.”
Headquartered in Bangalore, Goat Brand is among the new wave of startups in the ecommerce universe who are acquiring early-stage D2C brands and scaling them online as well as offline. Recently it announced 11 strategic investments in D2C brands across sectors like fashion, beauty-skin care, pets and home & kitchen.
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