E-commerce roll up firm G.O.A.T Brand Labs has acquired five direct-to-consumer (D2C) brands, including home and lifestyle brand Chumbak. With these acquisitions, the size of G.O.A.T Brand Labs’ portfolio reaches 20.
The firm plans to announce the names of the other four brands in the coming days.
Last year, G.O.A.T Brand Labs acquired multiple D2C brands such as The Label Life, a celebrity-styled brand, and trueBrowns, a premium ethnic wear brand; both of which claims to have grown 10X since their acquisitions.
Founded by Rishi Vasudev and Rameswar Misra, G.O.A.T Brand Labs empowers brands with operational capabilities and supports growth by providing insights, supply chain expertise, financial planning, brand building, digital marketing, and product development.
Chumbak is an omnichannel home and lifestyle brand that deals in categories such as home décor, fashion, accessories, and personal care. The firm has acquired more than $30 million from Matrix, Gaja Capital, Beenext, and others. It recently raised Rs 3 crore through revenue-based financing platform Klub.
Founded in 2010 by Shubhra Chadda and Vivek Prabhakar, Chumbak is present in over 50 stores across 20 cities with an employee count of 250.
Tiger Global and Flipkart Venture funded G.O.A.T Brand Labs plans to grow Chumbak to Rs 500 crore by 2025. Chumbak’s revenue from operations surged 29.6% to Rs 65.84 crore in FY22 from Rs 50.8 crore in FY21, according to the company’s annual financial statement. The firm’s losses went up only 2.9% to Rs 34.87 crore in FY22 as compared to Rs 33.9 crore in FY21.
While G.O.A.T Brand Labs is yet to file annual financial results for FY22, the company claimed that it’s eyeing $1 billion in revenue by 2025.
It competes with Mensa Brands, GlobalBees, Evenflow, 10club, Powerhouse91, and UpScalio among a few others. Tiger Global-backed Mensa Brands registered Rs 310 crore in revenue in its first year of operations.