G.O.A.T Brand Labs, an e-commerce roll-up firm, has acquired Chumbak for an undisclosed sum and added the brand to its portfolio.
In addition to Chumbak, it has also acquired four other D2C brands, the names of which the firm plans to announce in the coming days.
Chumbak is an omnichannel brand which deals in fashion, accessories, personal care and décor. The brand was founded in 2010 by Vivek Prabhakar and Shubhra Chadda.
G.O.A.T Brand Labs plans to grow Chumbak to a Rs. 500 crore business by 2025.
“Chumbak, since its founding days, has been an Indian homegrown (direct-to-consumer) brand that appeals to a global audience,” Rishi Vasudev, Co-founder and CEO of G.O.A.T Brand Labs, said in a statement, adding, “Our vision is to make Indian D2C brands world- famous and we have built multiple capabilities for that.”
“G.O.A.T’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,” Chumbak Co-founders Vivek Prabhakar and Shubhra Chadda said in a statement.
