The RP-Sanjiv Goenka Group (RPSG) has acquired India Lifestyle Network (ILN), the parent company of MensXP, for approximately $9 million, marking a steep 85% discount from its last known valuation of $60 million. The acquisition was made from e-commerce firm BRND.ME (formerly Mensa Brands), which had acquired ILN from Times Internet in 2022.
The sale includes other ILN assets such as iDIVA and HYPP, a digital influencer platform. Industry insiders suggest the deep markdown reflects shifting priorities at BRND.ME, which has been streamlining its portfolio in recent months.
Angad Bhatia, who founded ILN in 2017 and played a pivotal role in shaping MensXP into a leading men’s lifestyle platform, exited the company earlier this year to join Network18.
BRND.ME confirmed the divestment but refrained from disclosing financial specifics. “We have taken some strategic calls to simplify our portfolio which led to divestment of some of our financial and non-strategic assets including IL,” a spokesperson said, adding that the move wasn’t driven by liquidity concerns.
The company clarified it now operates two core verticals, health and wellness, contributing 60% of revenue, and lifestyle, accounting for the rest. It expressed confidence in scaling its current brands globally, underscoring a focus on brand-building over expansion through acquisitions.
Once on an aggressive acquisition spree, including brands like Pebble, MYFITNESS, and Florona, BRND.ME has recently pared down its stake in some ventures. Despite a decline in losses by 31% to Rs 155.85 crore in FY24, the company continues to realign its strategy amid an evolving D2C landscape. Its operating revenue rose to Rs 557.66 crore in the same period.