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Ecommerce roll-up firm GOAT Brand Labs acquires Frangipani

IndianStartupNewsIndianStartupNews · 1y ago
Ecommerce roll-up firm GOAT Brand Labs acquires Frangipani
Medial

Mumbai-based e-commerce roll-up firm GOAT Brand Labs has acquired the remaining stake of founders in children's nightwear and loungewear brand Frangipani, aligning with terms initially outlined during the majority acquisition in 2021. Frangipani offers children's nightwear and loungewear, gaining recognition for its kidswear products. The acquisition aims to boost Frangipani's growth in India and international markets, with GOAT Brand Labs providing digital marketing, technology support, working capital management, and distribution expansion. GOAT Brand Labs acquires and scales direct-to-consumer (D2C) brands and has a portfolio of around 20 brands, backed by global investors like Tiger Global and Flipkart.

Oziva records flat growth under Hindustan Unilever in FY24

EntrackrEntrackr · 1y ago
Oziva records flat growth under Hindustan Unilever in FY24
Medial

D2C nutrition brand Oziva, which was acquired by FMCG giant Hindustan Unilever (HUL) in 2022, posted a flat scale during the fiscal year ending March 2024. Following a 20% decline in sales during FY23, the D2C nutrition brand posted a flat scale with a modest 4% increase to Rs 104 crore in FY24, the annual report of its parent company HUL shows. HUL said that Oziva recorded Rs 44 crore loss in the last fiscal year. In FY23, the firm registered a net profit of Rs 58.8 crore due to one-time gain of Rs 95.5 crore. However, if we exclude that other income, its losses stood at Rs 45.8 crore in FY23. This implies, Oziva’s scale and loss remained flat in the last financial year (FY24). It’s worth noting that it is the first full fiscal year for Oziva under Hindustan Unilever. The six-year-old D2C firm sells plant-based nutrition products for health, skin, hair, and general wellness. The sale of health and nutrition products was the sole revenue driver for the company. The company has raised around $17 million to date with the backing of Matrix Partners, Eight Road Ventures, and Stride Ventures. In December 2022, HUL acquired 51% stake in Oziva with the first tranche at a cash consideration of Rs 264.28 crore ($32 million). As per the annual report, Oziva was valued at Rs 361 crore ($43.5 million) using the multi-period excess earnings method. At the same time, HUL also acquired 19.8% of the stake in Wellbeing Nutrition for a cash consideration of Rs 70 crore. Founded by Avnish Chhabria, Wellbeing Nutrition is a whole-food nutrition company that uses plant-based ingredients to deliver wellness to individuals. The company is yet to disclose its FY24 results.

Good Monk raises $2 Mn in pre-Series A round led by RPSG Capital

EntrackrEntrackr · 3m ago
Good Monk raises $2 Mn in pre-Series A round led by RPSG Capital
Medial

Good Monk, the flagship brand of Superfoods Valley, has raised $2 million in pre-Series A funding round led by RPSG Capital Ventures along with participation from existing investors Multiply Ventures, Sharrp Ventures, and ThinKuvate. The proceeds will be utilized to invest in R&D and product development to present better nutritional alternatives. Co-founded in 2022 by Amarpreet Singh Anand and Sahiba Kaur, Good Monk offers a range of products, including multivitamin and probiotic mixes, fiber supplements, and over 50 nutrition mixes for seniors. The Bengaluru-based company aims to make nutrition accessible and easy, focusing on nutritional transparency and community engagement, particularly supporting less privileged communities. It is also known for contributing a portion of their sales to mid-day meal programs. Good Monk is currently retailing across its website and leading e-commerce platforms like Amazon and Flipkart. The brand claims to have built a strong consumer base and grown 11X in the last 12 months. RPSG Capital has invested in the nutrition, health, and wellness space and backed companies in this category such as Nutrabay, Plix, and True Elements.

Nykaa acquires majority stake in Earth Rhythm

EntrackrEntrackr · 7m ago
Nykaa acquires majority stake in Earth Rhythm
Medial

Omnichannel beauty platform Nykaa has acquired a majority stake in the homegrown clean beauty brand Earth Rhythm. This acquisition follows Nykaa's earlier minority stake investment in Earth Rhythm in 2022. The company has now secured a significant majority stake through a combination of primary and secondary transactions. Leveraging its ecosystem and expertise, Nykaa aims to drive Earth Rhythm's growth across various categories. The platform plans to enhance the brand's potential by focusing on innovation, marketing strategies, and omnichannel distribution, while maintaining Earth Rhythm's core values and unique positioning. Founded in 2019 by Harini Sivakumar, Sivakumar Varadarajan, and Arun Kumar, Earth Rhythm is an internet-first brand offering a diverse range of organic beauty products. Its portfolio spans skincare, hair care, makeup, and lip care, featuring items like face masks, toners, hair oils, shampoos, conditioners, lipsticks, and lip balms. The brand is known for its vegan, cruelty-free, biodegradable products made without artificial fragrances. Headquartered in Gurugram, Earth Rhythm previously raised $9.13 million from Anicut Capital and other investors. The brand has built a strong presence by offering clean, clinically effective beauty and personal care solutions. Earth Rhythm has experienced significant progress in a short period, demonstrating strong sales growth, customer acquisition, category expansion, innovation, and brand awareness. With a catalog of over 250 SKUs across six categories, it continues to expand its market presence. Nykaa, an omnichannel marketplace in beauty, wellness, and fashion, offers a wide range of private labels, including skincare brand Dot & Key, jewelry line Pipa Bella, and apparel brands Gajra Gang and Kica. In the beauty and fashion space, Nykaa faces competition from major players like Amazon, Flipkart, Myntra, and niche platforms such as Purplle.

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