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Deepti Sri · · 1 min readThrasio to enter India by acquiring consumer brand for up to $50m
“Thrasio, the US-based company that pioneered the model of acquiring private brands on Amazon and scaling them up, is entering India and is close to making its first acquisition of a local brand,” The Economic Times reported.
Details:
- Thrasio will reportedly shell out an estimated US$30 million to US$50 million to acquire India-based Lifelong Online, which sells consumer durables in segments like kitchen, grooming, fitness, and home appliances. The firm will also be the vehicle through which Thrasio will operate in India.
- As part of the deal, Tanglin Ventures, which holds a 20% stake in the Indian firm, will make an exit. Separately, Thrasio will invest up to US$500 million in India, identifying the country as a key consumer market.
Dive deeper:
- Thrasio’s entry into India comes amid an emerging demand in the country for roll-up ecommerce startups, which have attracted over US$300 million from top investors including Tiger Global, SoftBank, and Accel. (Read also: Roll-up ecommerce flexes its muscles in India)
- Meanwhile, Indian roll-up ecommerce startup 10club is in talks to acquire 30 brands in categories like sports, homecare, and babycare. It recently announced its first acquisition of My NewBorn, followed by Skudgear, a sports and fitness equipment brand.
Editing by Collin Furtado
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