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Sunday, January 23, 2022

Mensa Manufacturers acquires denim producer Excessive Star

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Thrasio-fashion residence of manufacturers participant Mensa Fashions acquired household-developed denim model, Important Star for an undisclosed sum of money, the enterprise defined in a assertion on Monday.

That is Mensa Manufacturers’ – India’s quickest startup to vary unicorn – fourteenth acquisition.

Increased Star was launched in 2012 by Rohit Mirchandani. The company sells an enormous collection of denim merchandise and options reminiscent of jeans, jackets, and skirts, amongst many others, on e-commerce platforms these sorts of as Myntra, Ajio and Flipkart, the assertion defined.

“Inside the very first 12 months of onboarding, Mensa will assist us in areas this sort of as digital advertising and marketing and promoting, applied sciences, working funds administration and channel enlargement,” defined Mirchandani.

“We’re enthusiastic to welcome Excessive Star to our tech-led dwelling of worldwide manufacturers. Collectively, we’re performing to boosting the model’s development trajectory, setting a goal of attaining a 10x gross turnover for the mannequin inside simply the next 4 to 5 a number of years,” claimed Ananth Narayanan, Founder and CEO, Mensa Model names

“Our workforce has outlined a strategic roadmap for rising the model’s footprints within the home and worldwide markets all through channels to get to individuals and proceed on to strengthen purchaser working expertise,” he added

Established this yr, Mensa Producers follows a ‘home of manufacturers’or producer aggregation method, the place it acquires and companions with digital-to begin with model names, and appears to speed up their progress by providing on-ground skills and tech-led interventions about advertising and marketing and promoting, and capabilities, the assertion defined.

Beforehand this month, Mensa obtained Mumbai-based residence décor and kitchenware model Folkulture.

Final month, Mensa grew to become the quickest Indian unicorn (startup with a valuation of $1 billion) because it elevated $135 million (about Rs 1,013 crore) as a element of its newest sequence B funding spherical led by Falcon Edge Capital’s progress part system, Alpha Wave Ventures.

In simply 6 months of commencing the enterprise enterprise, Mensa has raised a complete of excess of $300 million (throughout Rs 2251 crore) in equity and debt. The agency is backed by marquee world-wide patrons along with Accel Companions, Falcon Edge Money, Norwest Enterprise Associates, Prosus, and Tiger World Administration. It has additionally secured debt funding from Alteria Capital, InnoVen Funds, Piramal Capital, Stride Ventures, and TradeCred, amongst different people, the assertion stated.

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