Merger and Acquisition

G.O.A.T Brand Labs acquires D2C brand Chumbak and 4 Others

• ByStartupStory     |    January 12, 2023

G.O.A.T Brand Labs announced the acquisition of five D2C brands, including the iconic Chumbak home and lifestyle brand. With these acquisitions, G.O.A.T Brand Labs’ portfolio now stands at 20.

G.O.A.T Brand Labs acquired several well-known D2C brands last year, including The Label Life, India’s top celebrity-styled brand, and trueBrowns, a premium ethnic wear brand; both of which have grown 10x since partnering with G.O.A.T Brand Labs.

The addition of these five brands expands its portfolio of rapidly growing fashion and lifestyle brands. G.O.A.T Brand Labs, which recently raised $50 million in funding from Tiger Global, Flipkart, Mayfield, Winter Capital, Nordstar, and Better Capital, will continue to invest in these brands in order to position them as leaders in their respective categories.

Rishi Vasudev, CEO and 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 and 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 and product strength will help accelerate our growth as a powerful and global brand in the home and gifting space.”

G.O.A.T Brand Labs was founded in May 2021 by Rishi Vasudev and Rameswar Misra. G.O.A.T collaborates with brand founders and equips them with the resources they need to scale their businesses.

It provides data-driven insights, supply chain expertise, financial planning, and deep expertise in brand building, digital marketing, product development, and other areas to empower brands and support growth. G.O.A.T. has emerged as the leading aggregator in the fashion and lifestyle space, and it is currently in advanced discussions with 8-10 other D2C brands.

Chumbak is a brand with distinct Indian aesthetics and a large fan base. The brand sells well in both online and offline channels. G.O.A.T Brand Labs intends to expand Chumbak to Rs 500 crore by 2025, leveraging its deep expertise in brand building, digital marketing, online and offline growth, and international expansion.

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