US-based Thrasio, which scales private brands that sell on Amazon, is pushing through with its US$500 million “long-term bet” on India, reports The Economic Times.
Last October, the roll-up ecommerce giant entered the country and acquired Indian consumer brand Lifelong Online for reportedly US$150 million to US$200 million. Lifelong co-founder Bharat Kalia is now set to lead Thrasio’s operations in India.
“I would love to see India growing to 25% to 50% of what we do ultimately. I am looking at this five years to 10 years out,” Thrasio co-founder and CEO Carlos Cashman told Economic Times, after sharing that the company raked in over US$1 billion in revenue last year.
Ecommerce roll-up firms are on the rise in India. Some players include GlobalBees, Mensa Brands, Upscalio, 10club, and Goat Brand Labs.
Editing by Collin Furtado and Eileen C. Ang
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