G.O.A.T Brand Labs acquires Chumbak & four other D2C brands

Mumbai: G.O.A.T Brand Labs plans to grow Chumbak to Rs 500 crore by 2025. After the acquisition of Chumbak, G.O.A.T Brand Labs is ready to expand the iconic home & lifestyle brand by leveraging its deep capabilities in brand building, digital marketing, online and offline growth, and expansion into international markets.

G.O.A.T further plans to announce the names of the other four brands it acquired, one at a time, in the coming days. With these acquisitions, the size of G.O.A.T Brand Labs' portfolio reaches 20.

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

Having raised a round of $50 million a few months ago and being backed by marquee 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.

Speaking on Chumbak’s acquisition, G.O.A.T Brand Labs CEO & co-founder Rishi Vasudev 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."

Chumbak co-founders Vivek Prabhakar & Shubhra Chadda 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 & product strength will help accelerate our growth as a powerful and global brand in the home and gifting space."