Estalon is a unique, original, family-owned leather brand developed in partnership with Mosay International
With Mensa, the startup wants to grow fivefold by 2025
Including Estalon, Mensa Brands has already acquired 15 D2C brands within eight months of its launch and plans to increase that number to 50 by 2024
E-Commerce Rollup Unicorn Mensa Brands has taken over the Calcutta-based leather goods manufacturer and seller Estalon. With Mensa, the startup wants to grow fivefold by 2025.
Estalon, a unique brand, was created in collaboration with Mosay International. The company is largely family-owned and specializes in the manufacture of various leather products such as women’s handbags, shoulder and shopping bags, rucksacks, men’s folders, organizers, purses, key cases, etc. The portfolio also includes small accessories such as rigger gloves, welding gloves, etc.
After the takeover, Estalon plans to introduce high-demand leather categories. It also aims to leverage Mensa’s data-driven insights, digital marketing, and expertise in improving operational efficiency for turbocharger growth.
Mohammed Mobashir, founder of Estalon, said in a statement that the expertise and enthusiasm of the Mensa team will help expand the brand’s presence and achieve its growth targets. “We’re focused on serving existing customers better and reaching new customers by introducing new products, launching on new channels, and refining the customer experience,” he added.
According to Mordor Intelligence, the leather industry in India was valued at $ 13 billion in 2019 and is expected to grow to $ 25 billion over the next 10 years.
Mensa Brands will be in November 2021. founded in the Thrasio style became the fastest Indian startup to become a unicorn after raising $ 135 million in a Series B round led by Alpha Wave Ventures at a valuation of $ 1 billion. The startup acquires, consolidates and scales e-commerce brands across a wide range.
Mensa Brands, based in Bengaluru, has already acquired 15 D2C brands within eight months of its launch. By 2024, it will keep an eye on a portfolio of 50+ companies in the fashion, home, garden, personal care and beauty sectors.
The startup claims to be investing in new age consumer brands that are profitable and have sales between $ 1 million and $ 10 million. Founder Ananth Narayanan previously told Inc42 that Mensa is buying a majority stake (50-60%) within the brand for 5-7 times the company’s EBITDA.
The cafeteria team brings in internal expertise in the areas of marketplace-native technology, data mining and digital marketing, category management and operation, brand building and global expansion. This is how it pushes the brands into the e-commerce segment with an omnichannel strategy, financial support, geographic expansion and process optimization.
Cafeteria brands current portfolio includes Pune-based women’s clothing brand Karagiri, Delhi NCR-based jewelry brand Priyaasi, men’s leisure brand Hubberholme, Mumbai-based men’s leisure brand Dennis Lingo, ethnic women’s clothing brand Ishin and smart FMCD startup Helea, Jaipur-based ethnic clothing brand Anubhutee, Villain who have favourited Ahmedabad-based personal care brand for men. Recent additions include Delhi NCR’s Digital First program Children’s fashion brand LilPicks and Denim brand High Star from Chennai.
However, Mensa Brands is not the first such user of the Thrasio model in India – some well-known names include Supam Maheshwari’s FirstCrys GlobalBees, Rishi Vasudevs GOAT Brand Labs, Utsav Agarwal & Pulkir Chhabras Evenflow, Bhavana Suresh’s 10backed Upscalio, and FJ Labs-supported Powerhouse91 . In fact, is based in the US Thrasio, the brand the roll-up startups are styled after, entered the Indian market with its first local acquisition of Delhi NCR-based home appliance startup Lifelong Online.