SUMMARY
Following the acquisition, GOAT plans to take Imara to the international market
The development comes almost two weeks after GOAT acquired Chumbak
India’s D2C market is projected to become a $300 Bn space by 2030, growing at a CAGR of 24%
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D2C rollup ecommerce startup GOAT Brand Labs has announced that it has acquired women-focussed ethnic apparel brand Imara. Following the acquisition, GOAT plans to take Imara to the international market.
The development has come almost two weeks after GOAT acquired clothing brand Chumbak for an undisclosed amount. Interestingly, Imara was one of the four D2C brands that was in talks with GOAT during that time.
Founded by Anjana Reddy in 2015, Imara is a clothing brand of Universal Sportsbiz. It sells premium-range ethnic wear for women aged 40 years and above. It also manages brands like Wrogn, Imara, and Ms Taken.
“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 strategizing concrete opportunities to make Imara available globally,” Rishi Vasudev, the CEO and cofounder of GOAT Brand Labs said.
Imara claims to be present on ecommerce marketplaces such as Myntra and at more than 70 retail outlets, including Shopper Stop.
Founded in 2021 by Rishi Vasudev and Rameswar Mishra, GOAT collaborates with D2C founders and empowers them to scale their brands.
The startup shared that its portfolio companies – trueBrowns and The Label Life – have recorded 10X growth in the past year. Other companies in its portfolio are Pepe Inner Fashion, NutriGlow, and Voylla, among others.
In June last year, GOAT raised $50 Mn in equity and debt funding from Winter Capital, 9Unicorns, Venture Catalysts, Oxyzo, Mayfield, Nordstar, and Better Capital, among others.
In India, it faces competition from the likes of UpScalio and Mensa Brands.
As per an Inc42 report, the country’s D2C market is projected to become a $300 Bn space by 2030, growing at a CAGR of 24%.
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