To strengthen its product offerings, ethnic wear brand Shobitam has marked its first acquisition with apparel brand House of Blouse. The financial details of the deal, however, were not disclosed.
The brand was founded by Aparna and Ambika Thyagarajan in 2019, and the company claims to be a growing online direct-to-consumer (D2C) platform for ethnic wear and serves in over 40 countries.
“This supplements and complements our customer experience greatly and enables us to diversify our product category by adding more unique products,” said Thyagarajan.
Till date, Shobitam has raised Rs 12 crore from Mumbai-based Hearth Ventures and angel investor Girish Laxman.
House of Blouse sells sarees and tailored blouses online, via its website and claims it can ship worldwide.
“We look forward to expanding our products outside of blouses and penetrate into different countries to which Shobitam has a solid customer base already,” said Roopa Reddy, co-founder and creative head at House of Blouse.
Lately, the D2C space also garnered the attention of large conglomerates, VCCircle had earlier reported.
Large conglomerates are finding it easier to buy out D2C brands amind a crunch of funds for unprofitable startups, according to investment bankers and investors. This trend has been steadily growing over the last few years and may hit its peak in 2023, especially for startups that require capital.
