This announcement comes on the heels of nearly a US$ 1 billion fund-raise that the roll-up unicorn raised in October last year, which was led by Silver Lake at a US$ 5 billion valuation.
The US e-commerce roll-up start-up Thrasio has announced its foray into India with a Rs 3,750 crore commitment towards the market. This announcement comes on the heels of nearly a US$ 1 billion fund-raise that the roll-up unicorn raised in October last year, which was led by Silver Lake at a US$ 5 billion valuation. Thrasio Holdings has also acquired Lifelong Online, a leading online consumer brand, with an aim to build its portfolio of digital-first brands.
Thrasio’s entry into India – known to be one of the fastest-growing digital consumer markets globally – at a time when homegrown start-ups are also bullish on brand-aggregation with intense competition brewing between companies such as Mensa Brands, GlobalBees, among others. The announcement is a major step in the company’s evolution journey, bringing with it a huge opportunity for the online sellers, said Thrasio CEO Carlos Cashman in a company statement. India is one of the fastest-growing regions for Amazon’s third-party marketplace, making it enticing for aggregators. This enormous opportunity, combined with the success of leading acquirers, has fuelled a rise in start-ups created under the rubric of the “Thrasio model”, the company said in a statement. Founded in 2018, Thrasio thrives on brands that sell on Amazon. The company collaborates and acquires them. Once the brand has been acquired, Thrasio then upgrades its product development, marketing, and supply chain management. With Lifelong leading the on-ground execution, Thrasio gains the strength of a knowledgeable, local company to run the Indian business. Backed by Thrasio’s extensive experience and the Rs 3750 crore commitment to acquire Indian businesses, the company will quickly be a significant player in the seller ecosystem, it added.
