G.O.A.T Brand Labs acquires Chumbak
Part of a recent five-brand acquisition
Jan 12, 2023 12:22:00 PM | Article | Campaign India Team Share -
G.O.A.T Brand Labs has announced that it has acquired the home and lifestyle brand Chumbak. According to a statement issued by G.O.A.T Brand Labs, the company has recently acquired a total of five D2C brands, the first of which is Chumbak.
G.O.A.T Brand Labs' stated mandate is to grow Chumbak to a INR 500 crore brand by 2025.
This follows G.O.A.T Brand Labs acquiring The Label Life and trueBrowns last year.
Rishi Vasudev, CEO and co-founder, G.O.A.T Brand Labs, 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.”
Vivek Prabhakar and Shubhra Chadda, co-founders, Chumbak, 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 and product strength will help accelerate our growth as a powerful and global brand in the home and gifting space.”
The statement from G.O.A.T added that it will reveal the other four brands it has acquired shortly.