G.O.A.T Brand Labs Acquires Chumbak And Four Other D2C Brands
With these acquisitions, the size of G.O.A.T Brand Labs' portfolio reaches 20
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G.O.A.T Brand Labs announces the acquisition of five D2C brands, including that of Iconic Home and lifestyle brand - Chumbak. With these acquisitions, the size of G.O.A.T Brand Labs' portfolio reaches 20. G.O.A.T Brand Labs plans to grow Chumbak to INR 500 crore by 2025, leveraging its deep capabilities in brand building, digital marketing, online and offline growth and expansion into international markets, according to an official statement.
"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," said Rishi Vasudev, CEO and co-founder, G.O.A.T Brand Labs.
Rishi Vasudev and Rameswar Misra founded G.O.A.T Brand Labs in May 2021. G.O.A.T works collaboratively with the brand founders and empowers them with the right resources to help scale their brands. Last year G.O.A.T Brand Labs acquired multiple well-known D2C brands including The Label Life, India's top celebrity-styled brand, and trueBrowns, a premium ethnic wear brand; both of which have grown 10 times since their partnership with G.O.A.T. Brand Labs. G.O.A.T has emerged as the leading aggregator in the fashion and lifestyle space and is currently in advanced talks with 8-10 other D2C brands, claimed by the company in the statement.
"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," said Vivek Prabhakar and Shubhra Chadda, co-founders of Chumbak, in a joint statement.
Chumbak is a globally inspired home and lifestyle brand with a unique modern Indian aesthetic, creating joyful products in categories across home décor, fashion, accessories, and personal care.