Mensa Brands, an e-commerce roll-up platform founded by Ananth Narayanan, former Myntra CEO, is getting good response in overseas markets.
Not surprising, considering over 30 per cent of the company’s revenue now comes from markets outside India.Notably, 50 per cent of its brand portfolio is available outside the country.
Mensa operates brands across fashion, lifestyle and home, and already operates 20 online brands with an intent to add 20 more. Also, it may look at foraying into a new category this year.
The brand also aims to double its net revenue run rate to Rs. 3,000 crore over the next year, and will hire 700 more people to double its team size to 1,400 as it eyes further expansion in India and abroad.
The brand had a net revenue run rate of Rs. 1,500 crore in its first year of operations.
A report of The Economic Times, a leading business daily, quoted Ananth Narayanan that Mensa Brands is aggressively expanding into international markets including the US, Middle East and Canada.
Ananth Narayanan said, “Mensa operates in the US, UAE, Canada, the UK, Germany and Singapore through marketplaces and its own platform. We are not burning money in any brands, we are only using the money that we have raised to acquire new brands.”
