G.O.A.T Brand Labs announces acquisition of Chumbak and four other D2C brands

G.O.A.T Brand Labs has announces the acquisition of five D2C brands, including that of home and lifestyle brand - Chumbak. 

With these acquisitions, the size of G.O.A.T Brand Labs' portfolio reaches 20. It plans to announce the names of the four other brands at a later date.

Chumbak is a brand with unique Indian aesthetics with a wide base of loyal consumers. The brand has strong sales on both online and offline channels. 

G.O.A.T Brand Labs plans to grow Chumbak to Rs 500 crore by 2025, leveraging its deep capabilities in brand building, digital marketing, online and offline growth and expansion into international markets.

Last year, G.O.A.T Brand Labs had acquired multiple D2C brands including - The Label Life, the celebrity-styled brand, and trueBrowns, a premium ethnic wear brand.

The addition of these five brands further strengthens its portfolio of fast-growing fashion and lifestyle brands. Having raised a round of $ 50 million a few months back and backed by investors - Tiger Global, Flipkart, Mayfield, Winter Capital, Nordstar, and Better Capital, G.O.A.T Brand Labs will continue to invest in these brands to make them leaders in their respective categories.

Rishi Vasudev, CEO and Co-founder, G.O.A.T Brand Labs, said, “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.”

Vivek Prabhakar and Shubhra Chadda, Co-founders, Chumbak, added, “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.”

Some of the other brands in G.O.A.T Brand Labs’ portfolio include – The Label Life, TrueBrowns, Pepe InnerFashion, Abhishti, Neemli Naturals, NutriGlow, Voylla, Pet Crux, etc.

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