Goat Brand Labs is all set to grow Chumbak to a Rs 500 crore brand in the next three years. It plans to announce the names of the other four brands soon
Mumbai: Goat Brand Labs announces the acquisition of 5 D2C brands, including that of Home and Lifestyle Brand – Chumbak. It was also mentioned that the names of the other 4 D2C brands will be revealed soon. With these acquisitions, the size of Goat Brand Labs’ portfolio reaches 20.
Speaking on Chumbak’s acquisition, Rishi Vasudev, chief executive officer and co-founder, Goat Brand Labs, said, “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, “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.”
Chumbak is a brand with Indian aesthetics and a wide base of consumers. Goat Brand Labs plans to grow Chumbak to Rs 500 Cr by 2025, leveraging its deep capabilities in brand building, digital marketing, online and offline growth and expansion into international markets.
Last year Goat Brand Labs acquired multiple well-known D2C brands including The Label Life, India’s celebrity-styled brand, and trueBrowns, a premium ethnic wear brand; both of which have grown ~10x since their partnership with Goat. Brand Labs.
Having raised a round of $50 million a few months back and backed by marquee investors – Tiger Global, Flipkart, Mayfield, Winter Capital, Nordstar, and Better Capital, Goat Brand Labs will continue to invest in these brands to make them leaders in their respective categories.
Rishi Vasudev and Rameswar Misra founded Goat Brand Labs in May 2021. Goat 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 Goat Brand Labs’ portfolio include – The Label Life, TrueBrowns, Pepe InnerFashion, Abhishti, Neemli Naturals, NutriGlow, Voylla, Pet Crux, etc.
Chumbak is a globally inspired home & lifestyle brand with a modern Indian aesthetic, creating products in categories across home décor, fashion, accessories, and personal care.