Direct-to-consumer (D2C) rollup ecommerce startup GOAT Brand Labs acquired Chumbak and four other D2C brands. It did not, however, reveal the names of the other four brands.
GOAT collaborates with brands and provides them with resources to help them scale. Following the acquisition, GOAT intends to increase Chumbak’s revenue to INR 500 crore by 2025. Chumbak’s capabilities in brand building, digital marketing, online and offline growth, and international market expansion will be leveraged further. Eight months ago, GOAT infused an undisclosed amount in skincare and cosmetics brand Nutriglow. According to Inc42, the country’s D2C market is expected to grow at a CAGR of 24% to $300 billion by 2030.
