Direct-to-consumer (D2C) company <keyword id="11353130" type="General" weightage="20" keywordseo="Mensa-Brands" source="Orion">Mensa Brands</keyword> on Monday said it has acquired healthfood startup <keyword id="14190155" type="General" weightage="20" keywordseo="MyFitness" source="Orion">MyFitness</keyword> for an undisclosed sum, with an aim to make it a Rs 1,000 crore brand in the next three-four years. The acquisition will help Mensa Brands launch new categories, scale D2C, invest in brand-building and expand to global markets. "MyFitness is a fast-growing consumer-loved brand and we will scale the brand to have an omni-channel global presence by leveraging our tech-led playbook. We believe we can build MyFitness into a Rs 1,000 crore brand in the next three-four years," said Ananth Narayanan, Founder and CEO, Mensa Brands. Founded in 2019 by Mohammad Patel and Rahil Virani, MyFitness is popular among fitness enthusiasts, Millennials, Gen Z, and sportsperson. MyFitness is the first to launch a chocolate variant of Peanut Butter in India and the world's first crispy Peanut Butter. It is also the official snacking partner of IPL teams, Punjab Kings and Delhi Capitals. "We're thrilled to be partnering with Mensa Brands, a market leader proven to exponentially scale brands," said Patel. MyFitness currently has more than 30 SKUs (stock keeping units) with an average selling price of Rs 500. Mensa Brands, founded by Narayanan who is <keyword id="14960728" type="General" weightage="20" keywordseo="former-CEO-of-Myntra-and-Medlife" source="Orion">former CEO of Myntra and Medlife</keyword>, is backed by global investors like Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus and Tiger Global Management. It registered a net revenue run rate of Rs 1,500 crore in the first 12 months of operations. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/harsha-engineers-ipo-to-open-next-week-grey-market-premium-is-already-at-150-per-share/articleshow/94099229.cms">Harsha Engineers IPO to open next week; grey market premium is already at ₹150 per share</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/queen-elizabeth-ii-remembering-her-visits-to-india/slidelist/94093345.cms">Queen Elizabeth II’s special connection with India</a>

Mensa Brands acquires MyFitness, aims to turn it into a ₹1,000 crore brand

<ul><li><keyword id="6397414" type="General" weightage="20" keywordseo="ananth-narayanan" source="Orion">Ananth Narayanan</keyword> had led brands like Myntra and Medlife in the past, and is also a board member at Marico.</li><li><keyword id="737852" type="General" weightage="20" keywordseo="mensa" source="Orion">Mensa</keyword> Brand is a Thrasio-style house of brand company, which will acquire local retail brands and scale them up.</li><li>While several companies have raised multi-million rounds on this model, US-based Thras.io is also set to enter India soon.</li></ul><keyword id="11353130" type="General" weightage="20" keywordseo="mensa-brands" source="Orion">Mensa Brands</keyword>, founded only six months ago by Myntra’s former chief executive Ananth Narayanan, is the latest as well as the youngest startup to enter the unicorn club. A unicorn, in the startup purlance, is a company valued at over billion dollars. Mensa brand’s business model is based on the New York-based e-commerce player Thras.io, which acquires small merchants and brands listed on Amazon marketplace. Thras.io has acquired more than 100 third party sellers or fulfilled by Amazon (FBA) businesses and is valued at $5 billion. Big money backing Mensa Mensa Brands reached that milestone, after raising $135 million in a funding round led by Alpha Wave Ventures. Prosus Ventures (previously known as Naspers) also joined the fundraise as a new investor. Several existing investors — including Accel PArtners, Norwest Venture Partners and Tiger Global — also participated in the round. Ananth Narayanan served as the chief executive officer (CEO) of Myntra for four years, between 2015 and 2019. Prior to that, he worked at management consultancy firm McKinsey for almost 16 years and rose to the position of a managing partner. Narayanan also joined epharmacy company Medlife as a cofounder and CEO in 2019, which was<a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms"> sold</a> to<a href="https://www.businessinsider.in/business/startups/news/pharmeasy-is-set-for-ipo-drhp-highlights-revenue-shareholdings-and-intentions/slidelist/87644144.cms"> initial public offering (IPO)</a>-bound PharmEasy earlier this year. He is also a board member at one of the biggest consumer products companies in India, Marico, which owns popular brands like Saffola (cooking oil) and Parachute (hair oil). A growing business model He started Mensa Brand in May this year. It is a Thrasio-style house of brand company, which will acquire local retail brands and scale them up. The business model has also garnered the interest of marquee investors in India over the last one year. While Indian players like<a href="https://www.businessinsider.in/business/startups/news/bhavna-suresh-has-closed-indias-largest-seed-round-for-her-nine-month-old-startup-10club/articleshow/83978841.cms"> 10Club</a> and <a href="https://www.businessinsider.in/business/startups/news/globalbees-has-raised-150-million-in-few-months-of-launch-to-acquire-more-businesses/articleshow/84552291.cms">GlobalBees</a> (founded by FirstCry founder Supam Maheshwari and Edelweiss' former executive Nitin Agarwal) have garnered the interest of investors, Thras.io has taken note of this trend as well. The US-based company Thras.io raised over a billion dollars last month to enter the Indian market directly. The company reported a profit of $100 million last year and now aims to boost its revenue to $1 billion for this financial year, as per a Moneycontrol<a href="https://www.moneycontrol.com/news/business/thrasio-raises-1-billion-in-funding-plans-india-entry-7625501.html#:~:text=The%20news%20agency%20pegged%20its,have%20%241%20billion%20in%20revenue."> report</a>. Mensa Brands is the first Indian Thras.io-style company to be valued over a billion dollars. The company has acquired a dozen brands already and now plans on closing 20 more deals soon. The company will use the fresh funding to grow its portfolio and hire across functions. “We are truly platform neutral and our brands are present across different platforms like Amazon, Flipkart, Meesho and others. We are excited to back more founders and brands and scale them further,” Narayanan said. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/policybazzar-and-sigachi-share-price-jump-in-early-trading/articleshow/87730171.cms" data-type="tilCustomLink">Policybazaar gets a boost after an American fund laps up 3.4 million shares and Sigachi hits upper circuit on the morning after listing</a> <a href="https://www.businessinsider.in/business/corporates/news/jpmorgan-takes-tesla-to-court-over-elon-musks-2018-tweets-demands-162-million/articleshow/87729405.cms" data-type="tilCustomLink">JPMorgan takes Tesla to court over Elon Musk’s 2018 tweets ⁠— demands $162 million</a> <a href="https://www.businessinsider.in/cryptocurrency/news/inspired-by-elon-musk-investors-are-incorporating-meme-numerology-into-their-bitcoin-trading-strategies/articleshow/87721228.cms">Inspired by Elon Musk, investors are incorporating meme numerology into their bitcoin trading strategies</a>

Former Myntra CEO started Mensa Brand in May ⁠and it’s already worth a billion dollars

<ul><li>Last month, ED sleuths raided <keyword id="6672551" type="General" weightage="20" keywordseo="wazirx" source="Orion">WazirX</keyword>'s parent company <keyword id="14679518" type="General" weightage="80" keywordseo="zanmai-lab" source="Orion">Zanmai Lab</keyword> and froze assets worth Rs 64.67 crore. </li><li>The ED has been conducting an investigation of 16 fintech companies and Instant loan apps.</li><li>WazirX is India's largest crypto exchange and has over 12 million users.</li></ul> Crypto exchange WazirX on Monday said the <keyword id="6357808" type="General" weightage="80" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> (ED) has allowed it to use its bank accounts after it cooperated with the investigators by providing them all the necessary details, information and documents of the alleged accused companies who used the WazirX platform. The company said in a statement that due to the active cooperation extended by WazirX and active anti-money laundering (AML) checks that led to the blocking of suspicious accounts, "ED has unfreezed the bank accounts of WazirX". "WazirX is now in a position to continue its banking operations as usual," said the crypto exchange. Last month, ED sleuths raided WazirX's parent company Zanmai Lab. It searched the premises and froze its bank assets worth ₹ 64.67 crore "for assisting accused instant loan App companies in laundering of fraud money via purchase and transfer of virtual crypto assets". The ED has been conducting an investigation of 16 fintech companies and Instant loan apps, some of them happened to use WazirX platform. The company clarified that it has no association with any of the alleged accused fintech and instant loan app entities which appear to be the subject of ED investigation and "is carrying out the <keyword id="12656622" type="General" weightage="20" keywordseo="kyc/aml" source="Orion">KYC/AML</keyword> checks despite having no legal obligation to do so". "WazirX is like any other intermediary whose platform may have been misused. After an in-depth internal investigation, WazirX noticed that most of the users whose information was sought by ED were already identified as suspicious by WazirX internally and were already blocked in 2020-2021," said the company. WazirX is India's largest crypto exchange and has over 12 million users. Several crypto exchanges are under the ED radar for their alleged involvement in money laundering of around ₹ 10 billion. Late last month, crypto exchange <keyword id="10245463" type="General" weightage="80" keywordseo="coinswitch-kuber" source="Orion">CoinSwitch Kuber</keyword>'s CEO Ashish Singhal said that the company fully cooperated with the ED officials in <keyword id="6354321" type="General" weightage="80" keywordseo="bengaluru" source="Orion">Bengaluru</keyword>, after reports surfaced that ED raided its premises over alleged money laundering under the Prevention of Money Laundering Act (PMLA), 2002. Singhal said that the company's engagement with the ED was not related to any money laundering inquiry. "Enforcement Directorate-Bengaluru has been engaged with us with respect to functioning of our crypto platforms/exchanges. We are fully cooperating with them," he had said in a tweet thread. ED recently froze crypto lending platform Vauld's bank assets worth ₹ 370 crore over its "predatory lending practices". SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/how-will-the-search-message-by-date-work-on-whatsapp/articleshow/94145465.cms">WhatsApp may soon allow users to search messages by date — here’s how it will work</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/mensa-brands-acquires-myfitness-aims-to-turn-it-into-a-1000-crore-brand/articleshow/94146270.cms">Mensa Brands acquires MyFitness, aims to turn it into a ₹1,000 crore brand</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tata-tiago-electric-car-to-launch-soon/articleshow/94147690.cms">Tata Tiago EV to launch soon – could be the cheapest EV from the car maker</a>

ED allows WazirX to use bank accounts frozen after raids

India’s tech hub sees most layoffs along with sharpest dip in hiring

234-year-old company EID Parry is only a tad more valuable than year-old  unicorn GlobalBees

<ul><li>Aditya Birla Fashion &amp; Retail (ABFRL) recently bought Reebok’s India operations and brands like the House of Masaba.</li><li>Now, the company says that it will set up a new subsidiary that will directly sell to the consumer (D2C) the way Thrasio, Mensa and 10Club do.</li><li>Shares of ABFRL have surged 76% in the last one year.</li><li>The story has been corrected to reflect that the new D2C unit will not be a marketplace like Ajio or Tata Cliq, as mentioned earlier.</li></ul>After a series of partnerships with some of India’s top designers of ethnic fashion like Shantanu &amp; Nikhil, Tarun Tahiliani, <keyword id="667" type="General" weightage="20" keywordseo="ritu-kumar" source="Orion">Ritu Kumar</keyword> and <keyword id="8264" type="General" weightage="20" keywordseo="sabyasachi" source="Orion">Sabyasachi</keyword>, <keyword id="3378227" type="General" weightage="20" keywordseo="aditya-birla-fashion-and-retail" source="Orion">Aditya Birla Fashion and Retail</keyword> (ABFRL) is preparing to go directly to the consumer. The company has said that the new entity will build “a portfolio of distinct, new-age, digital brands across categories in fashion, beauty and other allied lifestyle segments” Kumar Mangalam Birla, one of India’s top billionaires with a <a href="https://www.forbes.com/sites/aayushipratap/2022/02/03/indian-billionaire-gautam-adani-becomes-asias-richest-person/?sh=7e7df8744d92">net worth of $90 billion</a>, is ready to take the next big stride into online retail. The board of ABFRL has approved the setting up of a new D2C subsidiary. The retailer has had a bunch of brands for a while but in the last two years, it’s been busy stacking up outfits from some of the top designers of wedding attire. Birla’s recent pacts with designers of ethnic wear <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Acquisition year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% stake in acquired firm </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">June 2019 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jaypore &amp; TG Apparel &amp; Décor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July 2019 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shantanu &amp; Nikhil (S&amp;N) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July 2019 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Finesse Designs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sabyasachi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tarun Tahiliani </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33.5% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> <keyword id="13104055" type="General" weightage="20" keywordseo="what-is-d2c" source="Orion">What is D2C</keyword>? Direct to consumer is when a brand sells their products directly to consumers without selling through any third party retailers, wholesalers etc. Some of the popular D2C brands in the market are MyGlamm, Mamaearth, Wow Skin Science, BoAT, and Go Noise and the number of these brands in India has more than doubled in the last two years, according to consulting firm Bain and Company. Platforms selling D2C brands include Meesho, Tata Cliq, Myntra, Nykaa and Ajio. However, ABFRL’s business model will be similar to the New York-based e-commerce player Thrasio, which acquires small merchants and brands listed on Amazon marketplace. Thrasio has acquired more than 100 third party sellers or fulfilled by Amazon (FBA) businesses and is valued at $6 billion. Indian players like 10Club, Mensa Brands (founded by Myntra's former CEO Ananth Narayanan) and GlobalBees (founded by FirstCry founder Supam Maheshwari and Edelweiss' former executive Nitin Agarwal) have garnered the interest of investors. Notably, Mensa Brands is the <a href="https://www.businessinsider.in/business/startups/news/former-myntra-ceo-started-mensa-brand-in-may-and-its-already-worth-a-billion-dollars-with/amp_articleshow/87735832.cms">youngest Indian startup</a> to be valued over a billion dollars and 10Club raised the <a href="https://www.businessinsider.in/business/startups/news/bhavna-suresh-has-closed-indias-largest-seed-round-for-her-nine-month-old-startup-10club/amp_articleshow/83978841.cms">largest seed round</a> in Asia, last year. Even Thrasio is not willing to let go off this opportunity. The company will be looking to invest <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-aggregator-thrasio-will-invest-half-a-billion-dollars-in-buying-indian-brands/amp_articleshow/88894791.cms">half a billion dollars</a> in the Indian market over the next few years. The combined revenue of all D2C retailers in India was $3 billion in 2020, and is likely to be $35 billion by 2025, according to a recent report by O3 Capital. However, ABFRL’s statement pegged the D2C opportunity at a whopping $100 billion by 2025. <div type="image" title="aditya birla fashion stocks" height="900" width="1200" msid="89347682" hostid="261"></div>Now, ABFRL has been selling fashion brands like Louis Philippe, Van Heusen, Allen Solly, Peter England and many others through over 3,000 stores, for a while now. More recently ⁠— aside from the a series of pacts with makers of top dollar designer outfits ⁠— the company has also bought a <a href="https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/aditya-birla-fashion-to-buy-51-stake-in-masaba/articleshow/88892651.cms">51% stake in House of Masaba</a> (a clothing and cosmetics brand), and sportswear brand Reebok’s India operations. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Categories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brands sold by Aditya Birla Fashions </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Luxury </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The Collective, Ralph Lauren, Shantanu &amp; Nikhil, Sabyasachi, Tarun Tahiliani </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Super Premium </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Simon Carter, Hackett, Ted Baker, Jaypore, Polo </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Premium </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Louis Philippe, Allen Solly, VanHeusen, American Eagle </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sub-premium </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Peter England, Forever 21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pantaloons, People </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mass </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Style Up </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>With this business proposition, Aditya Birla is looking to mint money out of the extensive ecommerce offerings created by Jeff Bezos through Amazon, Walmart through Flipkart, Mukesh Ambani and the Tata Group. Birla will use brands like these to sell the D2C brands it acquires to sell online. Ambani’s Reliance Retail has also been making big investments in e-tail including Ajio, a six-year old online marketplace that makes a bulk of its revenue from sale of fashion clothing. Tata’s product is called Tata Cliq, which sells products from Westside, Shoppersstop and other brands. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/textile-cigarette-metal-and-electric-batteries-sectors-stocks-up-budget-day/articleshow/89346157.cms">Textile, cigarette makers and others sector stocks that rallied since budget speech</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-and-mukesh-ambani-are-now-richer-than-facebooks-mark-zuckerberg/slidelist/89338118.cms">Forbes shows Adani and Ambani are now richer than Facebook’s Mark Zuckerberg</a>

Birla has the best wedding suits stacked up and he wants them displayed on your phone

<ul><li><keyword id="3088950" type="General" weightage="20" keywordseo="licious" source="Orion">Licious</keyword> — which sells meat and seafood online — on Tuesday announced that it has raised $150 million.</li><li>Though the company has not revealed its valuation, it claims to be the most valued direct-to-consumer (D2C) startup in India.</li><li>A direct-to-consumer brand is a company that sells its products directly to customers without relying on third parties in a big way.</li></ul>Licious — which sells meat and seafood online — on Tuesday announced that it has raised $150 million. The Series F2 round was led by Singapore-based Amansa Capital, along with Kotak PE and Axis Growth Avenues AIF - I. Zerodha’s founders Nithin and <keyword id="968035" type="General" weightage="20" keywordseo="nikhil-kamath" source="Orion">Nikhil Kamath</keyword>, BoAt’s cofounder Aman Gupta and True North’s partner Haresh Chawla also participated in the round. Avendus acted as the exclusive financial advisor to Licious for the transaction. Though the company has not revealed its valuation, it claims to be the most valued direct-to-consumer (D2C) startup in India. There are currently only two D2C unicorns in India — Mamaearth and Licious. Mensa Brands made it to the club too but it is a house of D2C brands, meaning they will acquire smaller D2C brands and scale them further. “This valuation is a direct outcome of the value that we have created for our stakeholders – investments made towards building the category have borne us rich dividends and have propelled growth for the company and its people. The growing interest of investors – from India and abroad alike is an added assurance that obsession with customers, quality and service standards are the pillars of the best businesses,” Vivek Gupta and Abhay Hanjura, cofounders of Licious, said in a statement. A direct-to-consumer brand is a company that sells its products directly to customers without relying on third parties in a big way. A more traditional retailer follows a longer chain to provide a product to customers — manufacturer/producer&gt; to a wholesaler&gt; to a distributor&gt; to a retailer &gt; to customer. The development comes only six months after Licious made its <a href="https://www.businessinsider.in/business/startups/news/meat-and-seafood-brand-licious-is-now-worth-over-a-billion-dollars/articleshow/86775398.cms">entry into the unicorn club</a> with a billion dollar valuation. The company had raised $52 million in October 2021 in a round led by IIFL AMC’s Late Stage Tech Fund. Licious was founded by Abhay Hanjura and Vivek Gupta about six years ago. The company works on a <a href="https://www.businessinsider.in/advertising/brands/news/licious-ropes-in-bollywood-actors-anil-kapoor-and-arjun-kapoor-for-its-mass-media-campaign/articleshow/83198002.cms">farm-to-folk business model</a>, which means that it owns the entire supply chain from sourcing to selling. The company has created a robust cold chain control system to maintain the quality of its products from procurement, processing to storage. The company specialises in chicken, goat, lamb and pork meat, among others. It also offers fish and seafood products, along with exotic meat varieties like turkey, blue crab and more. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/ashneer-grover-claims-bharatpes-gold-loan-vertical-was-his-project/articleshow/90217735.cms" data-type="tilCustomLink">Ashneer Grover claims Bharatpe's gold loan vertical was his project, calls out CEO for ‘selling lies’</a> <a class="tout-title-link" href="https://www.businessinsider.in/home/facebook-wants-to-bring-back-young-adults-on-its-platform-but-they-say-theres-nothing-much-it-can-do-to-win-them/articleshow/90206539.cms">Facebook wants to bring back young adults on its platform but they say there’s nothing much it can do to win them</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-supplier-foxconn-halts-production-at-its-shenzhen-plants-after-sudden-covid-19-outbreak/articleshow/90215795.cms" data-type="tilCustomLink">Apple supplier Foxconn halts production at its Shenzhen plants after sudden COVID-19 outbreak</a>

Zerodha founders, BoAt’s Aman Gupta and others invest $150 million in Licious

<ul><li>On an average, India saw four startups turn unicorns on a monthly basis.</li><li>A unicorn, in startup parlance, is a company valued at over $1 billion.</li><li><keyword id="12241709" type="General" weightage="20" keywordseo="globalbees" source="Orion">GlobalBees</keyword> raised $111.5 million, while <keyword id="4548811" type="General" weightage="20" keywordseo="mamaearth" source="Orion">Mamaearth</keyword> raised another $80 million.</li></ul>India is now home to 81 <keyword id="4112095" type="General" weightage="20" keywordseo="unicorn-startups" source="Orion">unicorn startups</keyword> after Mamaearth and GlobalBees made it to the list in the last few days of 2021. Both the companies, who work in the ecommerce space, have raised capital at a valuation of over $1 billion. GlobalBees, on December 29, announced that it has raised $111.5 million in a round led by Premji Invest. The round also saw participation from new investor Steadview Capital as well as existing investors SoftBank and <keyword id="1615917" type="General" weightage="20" keywordseo="firstcry" source="Orion">FirstCry</keyword>. The company is valued at $1.1 billion. The company runs on a Thras.io model, which is a New York-based e-commerce player that acquires small merchants and brands listed on Amazon marketplace. After the acquisition of Amazon sellers’ businesses, the brand scales them up. GlobalBees is founded by online baby product retailer FirstCry cofounder Supam Maheshwari and Edelweiss’ former president and group chief investment officer (CIO) Nitin Agarwal. It raised <a href="https://www.businessinsider.in/business/startups/news/globalbees-has-raised-150-million-in-few-months-of-launch-to-acquire-more-businesses/articleshow/84552291.cms">$150 million</a> earlier this year. Mamaearth, on the other hand, is a direct to consumer (D2C) brand that sells its beauty and personal care products both online and offline. The company has raised nearly $80 million (₹589 crore) as per regulatory filings. This appears to be a part of a larger round. According to Entrackr, which first<a href="https://entrackr.com/2021/12/exclusive-mamaearth-turns-unicorn-after-a-new-round/"> reported </a>the development, Mamaearth has raised the latest round at a valuation of $1.07 billion. The company was valued at $750 million earlier this year, when it<a href="https://www.businessinsider.in/india/news/indian-skin-care-startup-mamaearth-valued-at-750-million-dollars-raises-50-million-for-acquisition/articleshow/84748327.cms"> raised $50 million</a>. Mamaearth was founded by <keyword id="4548812" type="General" weightage="20" keywordseo="ghazal-alagh" source="Orion">Ghazal Alagh</keyword> and Varun Alagh. Business Insider has reached out to Mamaearth for confirmation. India added<a href="https://www.businessinsider.in/business/startups/news/2021-indias-year-of-the-unicorn-and-its-many-high-points/slidelist/88528773.cms"> 11 ecommerce companies to the unicorn club in 2021</a>. This includes online car retailers CarDekho, Droom and Spinny, social commerce company Meesho, D2C brand Licious and another Thras.io-style startup Mensa Brands. On an average, India saw four startups turn unicorns on a monthly basis. Update: Mamaearth on January 1 announced that it raised $52 million in a round led by Sequoia. The company was valued at $1.2 billion. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-sun-pharma-dr-reddys-and-other-hot-stocks-to-watch-out-for-on-december-29/slidelist/88556621.cms" data-type="tilCustomLink">Reliance Industries, Sun Pharma, Dr Reddy’s and other hot stocks to watch out for on December 29</a> <a href="https://www.businessinsider.in/business/startups/news/nykaa-zomato-paytm-oyo-and-policybazaar-made-their-employees-millionaires/slidelist/88552831.cms" data-type="tilCustomLink">19 people who became millionaires by working for Indian tech startups</a> <a href="https://www.businessinsider.in/finance/banks/news/there-is-a-small-pool-of-hope-amid-all-the-fear-around-rbl-bank/articleshow/88538626.cms" data-type="tilCustomLink">There is a small pool of hope amid all the fear around RBL Bank</a>

India is home to 81 unicorns now as Mamaearth, Globalbees make it to the list

<ul><li>Myntra is looking at acquiring 7 lakh new customers this edition and is expecting a 50% increase in traffic on the platform than last year. </li><li>The fashion platform has added 50 new brands to its catalogue, partnered with 15,000 kirana stores to manage 70% EORS deliveries, and on-boarded 50 influencers to expand its reach. </li><li>Its communication will reach out to 300 million customers on different platforms as the number of creatives designed have been increased by 10X. </li><li>Harish Narayanan, Head – Marketing, Myntra Jabong shares how the platform ramped up its marketing game to grow the customer base, increase brand salience and engagement on the platform. </li></ul>
 <div type="Video" msid="72955907" hostid="261" title="What went behind marketing Myntra's biggest sale ever" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=72955907"></div>



 Myntra’s End of Reason Sale (EORS) started with a bang as it sold 1.77 lakh items, with over 2.2 lakh new customers signing up, in the first 10 minutes of the sale. The fashion platform is looking at acquiring 7 lakh new customers this edition and is expecting a 50% increase in traffic on its platform than last year. The current edition has also brought in gamification, with four games - Brand Hunter, Logo Mania, Crossword and Santa Delivery, that customers played to earn points before the sale went live. The games were played by 6.5 lakh users. Myntra also on-boarded 50 influencers, the highest so far, to expand its marketing reach. Harish Narayanan, Head – Marketing, Myntra Jabong further shared how the platform ramped up its marketing game to grow the user base, increase brand salience and engagement on the platform. “We have increased the number of creatives we made by 10X. We will be reaching 300 million users with our combined marketing plan this time,” says Narayanan. In a first, 50 new brands were launched on Myntra, ahead of the mega sale event, offering shoppers the widest selection till date on the platform. Myntra has also scaled up the selection of its private brands with 1.5 lakh styles across apparel, accessories and footwear. Key categories with expected high demand include winter wear, women’s ethnic and western wear, denims, street wear, sports and beauty. The 11th edition will end on December 25. Myntra has also partnered with over 35 brands to enable deliveries directly from their stores resulting in a wider selection and faster deliveries for customers during EORS. To increase the consumer's convenience, Myntra partnered with 200 tailors to offer alteration services in Bangalore, Delhi, Mumbai and Kolkata and opened 20 experience centres across the country to provide value-added services such as pick up, returns, trial rooms and alterations. The highly successful Kirana model, under MENSA (Myntra Extended Network for Service Augmentation) will cater to 70% of the overall deliveries, through 15,000 stores across the country. In addition to this, there are 9 forward deployment centres around high-demand clusters, to enhance logistical capabilities. Myntra has also expanded the number of pin codes served to 23,000, providing access to customers across all corners of the country.

How Myntra is scaling up its sales during EORS on the back of a strong marketing game

<ul><li>Fashion retail startup <keyword id="319719" type="COMPANY" weightage="20" keywordseo="Myntra">Myntra</keyword>’s <keyword id="3197885" type="PERSON" weightage="20" keywordseo="End-of-Reason-Sale">End of Reason Sale</keyword> started on June 21 and concluded on June 25. </li><li>During the sale, Myntra saw a 3X rise in the traffic to its platform.</li><li>It also acquired 4.8 lakh new customers.</li></ul>Indian fashion retail startup Myntra just concluded its annual End of Reason Sale and it has many reasons to gloat. Over 2 million customers bought 9 million items on the site, across the five-day sale. Myntra’s traffic went up by three times on its platform during the sale period. It also registered a whopping 7,100 orders per minute at its peak. “So far, we have acquired 4.8 lakh new customers and a significant portion of the sales came from tier 2 and 3 cities. With 12,500 kirana stores under the MENSA ((Myntra Extended Network Through Store Activation) network supporting last mile deliveries, we have been delivering over 6 lakh shipments per day,” said Amar Nagaram, head of Myntra Jabong. The company also said that members of its loyalty program – Myntra Insiders – contributed to about 42% of the overall sales. Interestingly, Myntra’s in-house brand Roadster sold 1.35 million products. In May 2019, Myntra also launched an offline store <a href="https://inc42.com/buzz/myntra-self-checkout-roadster-go-store-bengaluru/">Roadster Go </a>in Bengaluru, and plans to launch 100 such offline stores in the next two years. Myntra is a part of one of India’s biggest e-commerce startup <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, after the latter acquired it in 2014.

You Searched For "Mensa Brands acquires MyFitness" and got 10 results

Mensa Brands acquires MyFitness, aims to turn it into a ₹1,000 crore brand

IANS

Former Myntra CEO started Mensa Brand in May ⁠and it’s already worth a billion dollars

Kritti Bhalla

ED allows WazirX to use bank accounts frozen after raids

IANS

India’s tech hub sees most layoffs along with sharpest dip in hiring

Katya Naidu

234-year-old company EID Parry is only a tad more valuable than year-old unicorn GlobalBees

Vaamanaa Sethi

Birla has the best wedding suits stacked up and he wants them displayed on your phone

Sriram

Bhakti

Zerodha founders, BoAt’s Aman Gupta and others invest $150 million in Licious

Kritti Bhalla

India is home to 81 unicorns now as Mamaearth, Globalbees make it to the list

Kritti Bhalla

How Myntra is scaling up its sales during EORS on the back of a strong marketing game

Karuna Sharma

Myntra's biggest annual sale had 2 million shoppers and the fashion e-tailer sold over 7,100 items every minute

Sanchita Dash