Online youth fashion brand Styched has acquired Flatheads, a direct-to-customer (D2C) casual sneaker startup in an all equity deal.
With the acquisition of Flatheads, Styched will foray and expand into the footwear sector. The company also plans to incorporate its production-on-demand technology into the footwear category, enabling the seamless expansion of Flatheads’ existing collection.
Founded in 2018 by Ganesh Balakrishnan and Utkarsh Biradar, Flatheads specializes in designing all-day wear casual sneakers for the urban audience. It claims to be the first Indian brand to introduce bamboo fiber shoes, catering to the unique needs of the tropical Indian climate.
The Bengaluru-based startup is backed by We Founder Circle, LetsVenture, and angel investors, among others.
Initially, Flatheads will continue offering its existing range of products, with all departments now being operated and managed by Styched. This will be followed by hiring phase aimed at strengthening the footwear department within Styched, ultimately elevating the overall offering.