Ananth Narayanan, Former CEO, Myntra, plans to build brands for online retailers like Amazon.com Inc. and Flipkart that would tap into India’s growing e-commerce market.
As per Bloomesberg Quint, Narayanan’s goa is to build technology-led ‘House of brands that’s ready for e-commerce age, built from India but for the global market”.
The startup aims to acquire 50 brands over three years and build the expertise to scale them. He said they’re looking for profitable brands in segments like home, personal care, beauty and apparel that are doing $1-10 million in revenue.
Narayanan who had joined online pharmacy startup Medlife as Co-founder and CEO in 2019, stepped down in March this year following its acquisition by rival Pharm Easy. His latest venture, Mensa Brands has already raised $50 million from the likes of Accel, Falcon Edge Capital, Norwest Venture Partners, and others.
Mensa Brands joins the growing club of startups such as Global Bees, Bzaar, GOAT Brand Labs, 10club among others, that are trying to replicate the success of Thrasio in US.
