Goat Brand Labs acquires clothing brand Imara
Goat Brand Labs has acquired celebrity-endorsed ethnic wear brand Imara. The direct-to-customer brands business aims to expand the womenswear label both across India and internationally.
“We heartily thank Anjana Reddy for trusting Goat to help scale Imara in reaching newer heights,” said Goat Brand Labs’ CEO and co-founder Rishi Vasudev in a press release. “Having deeply rooted itself in the Indian premium apparel segment with a mixed presence in both online and offline channels – especially Goat’s strategic partner Shoppers Stop, Imara has great potential to be promoted further within the country and globally. We at Goat are strategising concrete opportunities to make Imara available globally.”
Imara is placed in the premium segment of the market and has already achieved a presence in over 70 brick-and-mortar multi-brand stores in India. These include shop-in-shops in department stores Shoppers Stop, which is also a strategic partner of Goat Brand Labs. Online, Imara retails through multi-brand platforms including Myntra.
Following its acquisition of Imara, Goat Brand Labs’ portfolio now has a significant base of premium womenswear customers and a presence in both offline and online channels, according to the business. Imara has been functioning under the umbrella of Anjana Reddy’s business Universal Sportsbiz Private Limited which also runs brands including Ms Taken and Wrogn among others.
Earlier in the month, Goat Brand Labs announced the acquisition of premium lifestyle brand Chumbak as well as four other direct-to-customer businesses. Goat Brand Labs was founded by Rishi Vasudev and Rameswar Mishra in May 2021 with the aim of bringing Indian direct-to-customer brands to a global audience.
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