Thrasio Enters Indian Market To Compete With 'Thrasio-style' Homegrown Startups

Asia's Tech News Daily

After acquiring more than 200 brands globally and raising more than $3.4 billion funding, US-based Thrasio forays into the Indian market. 

Thrasio Enters Indian Market To Compete With 'Thrasio-style' Homegrown Startups
Unsplash

Thrasio will be entering the market by acquiring a digital consumer brand in India, Lifelong Online, which will lead the on-ground execution. Called ‘Lifelong, a Thrasio company’, it will be headed by Lifelong’s co-founder and CEO Bharat Kalia.

Founded by Joshua Silberstein and Carlos Cashman in 2018, US-based Thrasio acquires Amazon’s third-party private-label businesses and helps them optimize operations. It offers upwards of $1 million and provides support in various areas such as marketing, product development and supply chain management. 

Thrasio has committed INR 3750 crore to acquire Indian businesses. “We couldn’t be more excited to work with Lifelong Online and, together, take our proven model to India,” said Carlos Cashman, CEO, Thrasio. 

“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. 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,” he added.

“We are building a technology-first, next-generation consumer goods company,” explained Bharat Kalia, CEO of Lifelong Online. “Thrasio’s acquisition expertise and the strength of our platform across e-commerce, D2C, Amazon, and Flipkart are a perfect match. We are already in active discussions with a number of sellers, and we’re excited to help Indian entrepreneurs realize the full potential of their brands and products. With lucrative exit options for founders, we hope to encourage even more brands and sellers to join the D2C ecosystem in India!” Lifelong Online’s current investors Tanglin Venture Partners and the Hero Group will continue their support.

Thrasio comes to India at a time when roll-up commerce or as often called the Thrasio-style business model is flourishing. 

Rise Of Roll Up Commerce 

In India, with the recent boom in e-commerce, around five startups have replicated the model to help small entrepreneurs achieve economies of scale. Basically, these startups look for brands with strong potential for sustainable hypergrowth, acquire them and help them grow. Many startups have raised a significant amount of funding from VCs. Some of the notable names include GlobalBees, Mensa, Goat and 10Club. 

Mensa Brands, founded by Ananth Narayanan, became the fastest company to turn a unicorn after it raised $135 million in Series B funding in November, six months after its launch.

GlobalBees also recently has secured $111.5 million in series B funding led by Premji Invest. The round also saw participation from existing investors including SoftBank and FirstCry, while Steadview Capital became the latest investor to back the company. With this latest investment, GlobalBees’ valuation stood at $ 1.1 billion. “We have created a stellar team. We have the right partners backing us, and the ecosystem has been kind in partnering with us to help us scale up the brands that we are acquiring,” Nitin Agarwal, CEO, GlobalBees told us in an earlier interview.  

It has a portfolio of companies across categories such as Homecare, Beauty and Personal Care, Nutrition & Wellness, Fashion Jewellery, and Eyewear. GlobalBees plans to invest in 100+ brands across verticals over the next three years, including fast-moving consumer goods (FMCG), sports, home organization, and lifestyle.

“Many of the Thrasio-based startups have completed their funding rounds and have started acquiring brands and we could see the acquisition pace pick up in 2022. This year could be sort of a litmus test for the investors in this space as the startups would go on to prove their business models on which huge amounts of funds have been raised,” said Ankur Bansal, co-founder and director, BlackSoil.He also added that some of these companies are likely to go for a bigger equity round or lever up their balance sheet with significant debt by early 2022 in order to expand operations of acquired brands as well as take over new ones.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

In photos: India marks Army Day 2022 with parade, tributes to soldiers

Army chief General Manoj Mukund Naravane, Air Chief Marshal VR Chaudhari and Admiral R Hari Kumar of the Indian Navy pay tributes to martyrs at the National War Memorial in ... Read more »

Review: 'Outlast' offers counsel to businesses starting out on their ESG journeys

Improvement on ESG metrics can mean businesses use resources more efficiently, lower cost of operations, and reduce risks, write the authors. Gone are the days when ‘sustainability’ was seen as ... Read more »

Indian-origin professor Soumitra Dutta appointed dean of Oxford's business school, Anand Mahindra, others congratulate him

Soumitra Dutta has helped several governments in formulating technology and innovation policies. Soumitra Dutta, a renowned professor of Indian origin, has been appointed the dean of the Saïd Business School ... Read more »

Instant guide to gourmet pizza

(Representational image) Pizza started out as a simple peasant dish of bread and tomato sauce in Italy. Today, there is a dizzying array of styles, crusts, toppings. Free pizza is ... Read more »

Armaan Malik: "English pop music is going to run parallel with my Bollywood and regional music"

Singer-songwriter Armaan Malik. Armaan Malik recently dropped his fourth English solo track ‘You’. The 26-year-old singer-songwriter who sings in a dozen different languages, became the first artist to top the ... Read more »

The first Tamil phrase Anand Mahindra learnt while in school

Anand Mahindra said that he has used “poda dei”, which translates to “go away”, many times. “Sometimes loudly, but usually under my breath,” he added. Industrialist Anand Mahindra, in tweet ... Read more »

Clap, don't chant: China aims for 'Zero COVID' Olympics

File image of preparations for the 2022 Beijing Winter Olympics (Image Source: AP) Athletes will need to be vaccinated or face a long quarantine take tests daily and wear masks ... Read more »

EXPLAINER: How Novak Djokovic plans to fight deportation in court

Following the annulment of this visa, Novak Djokovic could face possible deportation from Australia, ending his chances to win the 21st major title at the upcoming Australian Open tournament. Novak ... Read more »

The Tippling Point | The tequila that shot to dizzying heights

Jose Cuervo Tradicional is made with 100% agave while Especial Silver and Gold are mixto – only 51% of the alcohol comes from agave. “Jose Cuervo you are a friend ... Read more »

Exploring The Growing List Of Countries Which Indicates That Cash May Become Obsolete

Over 3000 years ago the world’s first recognizable coins were produced in China. Flash forward to present times and we can see that the market size of China’s digital economy ... Read more »

Hitachi's Rich Legacy in India

Moneycontrol journalists were not involved in the creation of this content. Read more »

Day after Groww, Zerodha app down for many users during trading hours

Twitter users suggested that Zerodha improve its servers. Many users of stock brokerage platform Zerodha faced troubles with the application on Friday and took to Twitter to voice their grievances. ... Read more »

Dogecoin value jumps after Elon Musk tweets it can be used to buy Tesla merchandise

Elon Musk has said when it comes to transactions per day, Dogecoin is a better currency than Bitcoin. A five-word tweet by billionaire Elon Musk led to a mcryptocurrencyassive jump ... Read more »

When Ratan Tata met Guns N' Roses star Slash at Jaguar outlet

Ratan Tata met Slash of Guns N’ Roses at a Jaguar store in California. (Image credit: Photo Instagrammed by ratantata) Industrialist Ratan Tata on Friday recalled his meeting with Slash, ... Read more »

Review: Yeh Kaali Kaali Aankhen has all the trappings of '90s Bollywood pulp, but lacks cinematic breadth and feel

Tahir Raj Bhasin and Anchal Singh in ‘Yeh Kaali Kaali Aankhen’. In form, Sidharth Sengupta’s Yeh Kaali Kaali Aankhen assuredly returns to 1990s’ Bollywood pulp in certain ways—scenes are treated ... Read more »

Novak Djokovic could face deportation as visa cancelled for the second time ahead of Australian Open

Following the annulment of this visa, Novak Djokovic could face possible deportation from Australia, ending his chances to win the 21st major title at the upcoming Australian Open tournament. The ... Read more »

Redmi Note 11S design leaks, could feature 108MP camera from Xiaomi 11i HyperCharge

Redmi Note 11S price in India is expected to be around Rs 17,000. Redmi Note 11S design renders have leaked online. The upcoming smartphone is expected to be priced at ... Read more »

'Bachpan ka Pyaar' boy Sahdev Dirdo, 10, to launch NFT collection

Sahdev Dirdo’s viral “Bachpan ka Pyaar” clip was shot by his teacher nearly two years ago. (Image credit: Photo Instagrammed by noften_nft) Sahdev Dirdo, the 10-year-old who gained internet fame ... Read more »

Singer Ronnie Spector, best known for 'Be My Baby', dies after battle with cancer

Ronnie Spector died after a brief battle with cancer. Ronnie Spector — the cat-eyed rock ‘n’ roll singer who fronted the 1960s group the Ronettes, whose era-defining hits included the ... Read more »

Kylie Jenner beats Ariana Grande to become most followed woman on Instagram, crosses 300 million followers

Kylie Jenner is pregnant with her second child with partner, rapper Travis Scott. With over 300 million followers, makeup mogul and social media personality Kylie Jenner is now the most-followed ... Read more »

On Jeff Bezos' birthday, throwback photos from partner Lauren Sanchez and a note on what the world doesn't see

Amazon boss Jeff Bezos’ girlfriend Lauren Sanchez posted a photo montage capturing his journey from being a child having fun to the billionaire boss that he is today. (Screengrab from ... Read more »

OnePlus 9RT launch in India today at 5 PM: Check leaked price, specifications

OnePlus 9RT specifications include a Snapdragon 888 SoC, a 4500 mAh battery with 65W fast charging. OnePlus 9RT launch in India is set to take place at 5 PM IST ... Read more »

Page from 1984 Spider-Man comic auctioned at record $3.36 million.

The auction of the page from the Spider-Man comic book took place in Dallas on January 13. (Image posted on Instagram by Heritage Auctions) A single page of artwork from ... Read more »

Wordle fans are downloading like crazy another app by the same name

Steven Cravotta created an app called “Wordle!” when he was 18. As Wordle, the five-letter online word game continues to be a global rage, a US-based marketing coordinator noticed that ... Read more »

Anand Mahindra wants to wish Indians on ‘each and every' harvest festival. Seeks Twitter's help

“Each year I miss out on one of them,” Anand Mahindra said about harvest festivals in India. Industrialist Anand Mahindra on Thursday asked his Twitter followers for a definitive list ... Read more »

OnePlus 9RT India launch event today at 5 PM: Where to watch the livestream

OnePlus 9RT specifications include a Snapdragon 888 SoC, a 4500 mAh battery with 65W fast charging. OnePlus 9RT launch in India is scheduled to begin at 5 PM local time. ... Read more »

OnePlus 9RT India price, specifications announced; available during Amazon Great Indian Republic Day Sale

OnePlus 9RT specifications include a Snapdragon 888 SoC, a 4500 mAh battery with 65W fast charging. OnePlus 9RT launched in India is the latest premium smartphone from the Oppo sub-brand. ... Read more »

'Then Polo, now Dolo': 7 paracetamol memes we could relate to

One of the Dolo-650 memes that has been doing rounds in Twitter. Between the third wave and flu doing rounds in the country, there is hardly anyone who does not ... Read more »

Storyboard18 | Ads hurting religious sentiments, mocking men offend Indians: report

Among the ads deemed offensive were those that seemingly provoked children’s interest in ‘adult life’, particularly in the idea of sexuality and physical intimacy. Months after advertisements for Fem Bleach, ... Read more »

'Human' review: Even Shefali Shah can't save this excruciatingly slow medical drama

Shefali Shah in ‘Human’, on Disney+Hotstar. (Image: screen grab) K-drama fans are used to watching 16 episodes a season avidly because the narrative moves forward at a demented pace, even ... Read more »

Watch: Virat Kohli's stump mic rant after dismissal of South Africa's Dean Elgar is overturned

India vs South Africa: Virat Kohli made his frustration clear by kicking the ground and venting into a stump mike when the decision went in favour of the opposite team. ... Read more »

Australian Open is much more than Djokovic

Rafael Nadal at the 2021 French Open. Novak Djokovic, Roger Federer and Nadal are all tied tantalisingly on 20 Grand Slam titles. (AP Photo/Michel Euler) For a second year in ... Read more »

Anahita Dhondy: "We receive a story with every dish"

Chef Anahita Dhondy says she’s currently working on a restaurant project that’s coming in 2022. Anahita Dhondy, who among other things is a celebrity chef and social media influencer, is ... Read more »

Army Day 2022: History, significance of the day and wishes for soldiers

Army Day 2020: Army Day in India is marked with parades and military shows in Delhi and Army headquarters across the country. India is celebrating Army Day on January 15 ... Read more »

My Family and Other Globalizers | When home is the world

(Representational image) Many children today do not experience place in the same way as their parents did growing up. Note to readers: My Family and Other Globalizers is a weekly ... Read more »

Should You Buy Webster Financial (WBS) Ahead of Earnings?

Investors are always looking for stocks that are poised to beat at earnings season and Webster Financial Corporation WBS may be one such company. The firm has earnings coming up ... Read more »

General Electric (GE) Arm Wins Wind Turbine Deal From Continuum

General Electric Company’s GE business unit, GE Renewable Energy, recently secured a contract from Continuum Trinethra Renewables Pvt Ltd for delivery, installation and commissioning of onshore wind turbines. Continuum Trinethra ... Read more »

Is D.R. Horton (DHI) Stock Undervalued Right Now?

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. ... Read more »

Should You Buy Triumph Bancorp (TBK) Ahead of Earnings?

Investors are always looking for stocks that are poised to beat at earnings season and Triumph Bancorp TBK may be one such company. The firm has earnings coming up pretty ... Read more »

Are These Utilities Stocks Undervalued Right Now?

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic