Liquidity Events
GOAT Brands Labs acquires lifestyle brand Chumbak
Rollup ecommerce brands platform GOAT Brand Labs has acquired 14-year-old, Bengaluru-based Chumbak Designs. GOAT plans to grow Chumbak, founded in 2010, to INR 500 crore by 2025, leveraging its capabilities in brand building, digital marketing, online and offline growth, and expansion to international markets. Chumbak was co-founded by Vivek Prabhakar and Shubhra Chadda in 2009 as a lifestyle brand that has grown to include a wide range of home decor items and fashion accessories. GOAT has also acquired four other direct-to-consumer brands, taking the size of its portfolio to 20. GOAT, which raised USD 50 million in June, is backed by Tiger Global, Flipkart, Mayfield, Winter Capital, Nordstar, and Better Capital.
From the Venture Intelligence PE-VC Deal Database: Between Sep-2012 and Nov-2020, Chumbak had raised almost USD 30 M from Seedfund, Matrix Partners India, Gaja Capital, Others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
