G.O.A.T Brands acquires lifestyle firm Chumbak for undisclosed amount

D2C brand buys four other brands it didn't name as it seeks expansion

D2C brand G.O.A.T Brand Labs said on Thursday it has acquired Chumbak, a home and lifestyle firm, for an undisclosed amount alongside four other brands.

G.O.A.T did not disclose the other brands it has acquired as the deals raised its portfolio to 20. The company said in a statement it plans to make Chumbak a Rs-500 crore company by 2025, using brand building, digital marketing and international expansion. It is in advanced talks with 8-10 other D2C brands.

“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,” said Rishi Vasudev, CEO and co-founder of G.O.A.T.

G.O.A.T, last year, acquired The Label Life, a celebrity-styled lifestyle brand, and trueBrowns, a premium ethnic wear brand. The two companies have grown ten-fold since their partnership with G.O.A.T., said the company.

G.O.A.T said it raised $50 million in a funding round a few months back and it is backed by Tiger Global, Flipkart, Mayfield, Winter Capital, Nordstar, and Better Capital.

Vivek Prabhakar and Shubhra Chadda, co-founders of Chumbak, said: “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 & product strength will help accelerate our growth as a powerful and global brand in the Home and Gifting space.”

Vasudev and Rameswar Misra founded G.O.A.T Brand Labs in 2021 to work with brand founders and given them resources to scale up.

Some other brands in G.O.A.T’s portfolio include Pepe InnerFashion, Abhishti, Neemli Naturals, NutriGlow, Voylla, and Pet Crux.