G.O.A.T Brand Labs, a roll-up e-commerce startup, announced on January 12 the acquisition of Chumbak and four other brands, whose names will be disclosed in the coming days.
The roll-up e-commerce startup plans to make Chumbak a Rs 500 crore brand by 2025, it said in a statement. It plans to leverage its deep capabilities in brand building, digital marketing, online and offline growth and expansion into international markets.
Rishi Vasudev, CEO & 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.”
With these acquisitions, G.O.A.T Brand Labs' portfolio now includes 20 brands including The Label Life, TrueBrowns, Pepe InnerFashion, Abhishti, Neemli Naturals, NutriGlow, Voylla, Pet Crux, etc.
“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 & product strength will help accelerate our growth as a powerful and global brand in the Home and Gifting space,” Chumbak cofounders Vivek Prabhakar and Shubhra Chadda said.
G.O.A.T Brand Labs was founded in May 2021 by Vasudev and Rameswar Misra. It is modelled after the US-based Thrasio, which acquires sellers and assists them in growing their brands through technology and operational expertise.