Mensa Brands acquires majority stake in 10 digital-first brands
Mensa Brands has acquired a majority stake in 10 digital-first brands across fashion, home, and beauty. The acquisition will see the founders and their teams join Mensa Brands.
Some of the brands that Mensa has acquired a majority stake include Karagiri, Priyaasi, Dennis Lingo, Ishin, Hubberholme, Anubhutee, Helea, Villain among others.
The company will further have an option to acquire these companies completely over a period of five years if they achieve certain milestones.
Commenting on the acquisition, Ananth Narayanan founder and CEO of Mensa Brands in a statement said, “We are excited to announce our partnership with ten remarkable founding teams that have created beloved digital brands. We are committed to propelling their journey forward and working together to build global breakout brands from India. At Mensa, we are passionate about using technology to build digital brands that are rooted in bringing joy to our customers.”
Earlier this year, Mensa Brands has raised around $50 million (Rs 373 crore) in its series A funding round that was led by Accel Partners, Falcon Edge Capital, and Norwest Venture Partners, along with angel investors such as Kunal Shah, Mukesh Bansal, Rahul Mehta of DST Global, and Scott Shleifer of Tiger Global.
Mensa has plans to acquire around 50 brands across categories over the next three years.
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