GOAT Brand Labs has announced the acquisition of Imara - a celebrity-endorsed women’s ethnic apparel brand.
As per GOAT Brand Labs, Imara has expanded its presence in over 70 offline stores, Shoppers Stop who are also a strategic partner of the former and online channels like Myntra.
Anjana Reddy’s Universal Sportsbiz (USPL) was founded in 2015 under which several successful lifestyle brands like Wrogn, Imara and Ms Taken have been functioning and gaining popularity across India. As part of USPL, Imara is shaking the premium ethnic wear segment in India by introducing quality, trending products at unbeatable prices.
Rishi Vasudev, CEO and Co-founder, GOAT Brand Labs, said, “We heartily thank Anjana Reddy for trusting GOAT to help scale Imara in reaching newer heights. Having deeply rooted itself in the Indian premium apparel segment with a mixed presence in both online and offline channels – especially GOAT’s strategic partner Shoppers Stop, Imara has great potential to be promoted further within the country and globally. We at GOAT are strategising concrete opportunities to make Imara available globally.”
GOAT Brand Labs had also announced the acquisition of lifestyle brand Chumbak and four other D2C businesses earlier this month.