Mensa, announced that the company is acquiring High Star, a homegrown denim brand to serve fashion-forward and digital first customers, as a part of a series buyout this year.
Ananth Narayanan, Founder, CEO, Mensa Brands confirmed the deal and said that the company is looking to multiply its gross turnover 10-fold in the next five years “Our team has outlined a strategic roadmap for expanding the brand’s footprints in the domestic and international markets across channels to reach consumers and continue to improve customer experience.”
Mensa become the fastest startup to turn to be a unicorn this year, and reached the billion-dollar valuation in just six months. The brand goes with an idea of buying out digital-first brands across diverese categories such as fashion, apparel, beauty and home care and recently, it has acquired brands such as LilPicks and Folkture.
High Stars, founded by Rohit Mirchandani and sell a wide range of denim products and is available on different marketplaces such as Myntra, Flipkart, Bewakoof and Ajio.
“Being part of Mensa Brands will help High Star scale astronomical levels we aim for. Mensa’s team will bring their expertise to expand the brand’s presence pan India and take it global. Within the first year of onboarding, Mensa will support us in areas such as digital marketing, technology, working capital management and channel expansion,” Mirchandani said.
Earlier this month, Mensa acquired Mumbai-based home decor and kitchenware brand Folkulture and raised $135 million as a part of its Series-B funding round led by Falcon Edge Capital’s growth stage platform, Alpha Wave ventures.