US-based rollup ecommerce pioneer Thrasio has entered India with INR 3,750 Cr ($500 Mn) commitment to acquire promising Indian digital-first brands. D2C consumer durables brand Lifelong is the first startup to be acquired by Thrasio.
Thrasio will be relying on Lifelong’s knowledge and expertise as a company operating in the local ecommerce space while the latter will be looking to leverage the former’s expertise in acquiring and scaling brands.
With Lifelong leading the on-the-ground execution, Thrasio gains the strength of a knowledgeable, local company to run the Indian business. Backed by Thrasio’s extensive experience and the INR 3,750 Cr commitment to acquire Indian businesses, Lifelong can quickly be a significant player in the seller ecosystem.
“As we got to know Lifelong, it became clear that they are the ideal partner for what we want to accomplish. Their team of proven executives has already built an amazing business, and their understanding of the Indian consumer is unparalleled,” said Carlos Cashman, the founder and CEO of Thrasio.
‘Thrasio-model’- the business format that has been named after the (Thrasio) company’s signature modus operandi, has become immensely popular in India recently. Mensa, UpScalio, Globalbees, 10Club are a few successful such ventures in India. And then there are a few including new entrants who have plans to replicate the model across different segments.
“Their expertise and local leadership will be invaluable as we make an enduring commitment to India. In addition to acquiring and growing digital-first businesses, we plan to participate in the ‘make in India’ movement by transitioning the manufacturing for some of our products to the country,” added Cashman, when speaking about the acquisition of Lifelong and how that fits into Thrasio’s plans for the country.
If you want to learn more about the Thrasio-model, you can hear it from the man of the game- who pioneered it—Carlos Cashman himself—on Inc42 Plus as he spoke to our subscribers during the D2C Summit.