Thrasio, the global roll-up e-commerce player, has divested the bulk of its holdings in Gurugram-based appliances company Lifelong Online, the only firm it acquired in the country.
Thrasio’s stake has been bought by Lifelong Online Retail Private Limited founders Atul Raheja, Bharat Kalia and Varun Grover, who now have majority ownership and control.
Existing investors such as Tanglin Venture Partners and Hero Enterprise Partner Ventures have also increased their ownership in Lifelong Online.
Thrasio, which acquire Lifelong India for about Rs 3,750 crore in January 2022, said on May 18 that it would continue to be “an active investor and a strategic partner of Lifelong Online”.
At the time of acquiring the stake, Thrasio Holdings said it would become a majority shareholder in Lifelong Online’s business and the company would be called Lifelong, a Thrasio company.
Lifelong, however, said it remains bullish on India and expects to deliver robust growth.
"India presents an incredible opportunity for us, and we believe that with our combined expertise, we can make a significant impact in the market. One thing that will remain unchanged is the strong commercial and strategic partnership between Lifelong and Thrasio," the spokersperson said.
Thanks to Thrasio's model, several e-commerce roll-up brands have mushroomed in India. Mensa Brands, GlobalBees, GOAT Brand Labs, Evenflow, Powerhouse 91, 10Club and Upscalio are the other players in the field.
Realising the potential, Lifelong has decided to remain focused on domestic markets.
“Customer obsession, nimbleness and adaptability form the foundation on which Lifelong Online is built. We will channel this into strengthening our presence in existing categories and creating inroads into new ones”, Lifelong Online spokesperson said.
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