G.O.A.T Brand Labs has announced the acquisition of five direct-to-customer (D2C) brands which includes the home and lifestyle brand Chumbak. According to the company, it plans to grow Chumbak to Rs 500 crore by 2025 and leverage its capabilities in brand building, digital marketing, online and offline growth and expansion into international markets.
Chumbak, since its founding days, has been an Indian homegrown D2C brand that appeals to a global audience, Rishi Vasudev, CEO and co-founder, G.O.A.T Brand Labs, said. “This partnership aims to grow the brand by expanding its global reach, both online and offline, through a tech and data-driven approach,” he added.
Prior to its current acquisition, G.O.A.T has taken in D2C celebrity brand The Label Life and ethnic-wear brand trueBrowns, which have grown nearly 10 times since their partnership. Moreover, it stated that a few months back, the company raised $50 million which was backed by investors such as Tiger Global, Flipkart, Mayfield, Winter Capital, Nordstar, and Better Capital.
Some of the brands in G.O.A.T Brand Labs’ portfolio include The Label Life, TrueBrowns, Pepe InnerFashion, Abhishti, Neemli Naturals, NutriGlow, Voylla, Pet Crux, among others.