It is part of Evenflow Brands‘ larger aim to considerably extend their reach, portfolio, and demand by acquiring four consumer brands in India.
Vifitkit and Yogarise, two sports and fitness companies, have been purchased, Frenchware, a cooking label, and Cingaro, a gardening brand, all of which have annual run rates ranging from $500k to $2 million. Additionally, the creators of Frenchware and Cinagro will serve in a consulting capacity for Evenflow as part of the agreement.
In the following six months, we hope to triple the growth of each of these brands.” We spent time putting together our game plans and strategizing about future growth. Utsav Agarwal, co-founder, and CEO of Evenflow, says that all four brands are now only available on Amazon. Still, they are in the process of being added to other marketplaces, including Flipkart, Meesho, and Jiomart.
Evenflow paid an upfront fee based on several EBITDA valuations and performance earn-outs spread over three years to buy all of these brands. Utsav Agarwal and Pulkit Chhabra, two former Uber executives who founded the e-commerce rollup in 2021, have recently purchased seven brands, including the most recent acquisitions. It would help if you did Ecommerce Training Online for better knowing about eCommerce.
Since then, the firm has purchased several other brands, including Xtrim, BabyPro, and Rusabl, all of which fall under the heading of “eco-friendly” products.
An American business that pioneered acquiring private brands on Amazon.com and growing them has announced plans to invest $500 million in India because it believes the country would become a key market in the future. Thrasio acquired a majority share in Lifelong, a consumer durables manufacturer, India’s first deal.
Unlike other Thrasio-style acquisitions that focus on D2C brands, Evenflow acquires EBITDA multipliers rather than revenue multipliers. As part of its strategy to build strong brands across numerous e-commerce categories, Evenflow has developed third-party e-commerce merchants with appealing product portfolios. You must join the Best eCommerce Training Course to know more about eCommerce.
On Amazon’s Yoga Mat vertical, Vifitkit, a three-year-old brand, has more than 8,000 reviews and is one of the most popular and highly rated gardening companies. It is expected that Evenflow would enable Yogarise to become a cult yoga brand and Frenchware to make an ecommerce acquisition and become a mainstream premium brand that caters to all of the kitchen’s primary categories.
On Amazon’s Yoga Mat vertical, Vifitkit, a three-year-old brand, has more than 8,000 reviews and is one of the most popular and highly rated gardening companies. It is expected that Evenflow would enable Yogarise to become a cult yoga brand and Frenchware to become a mainstream premium brand that caters to all of the kitchen’s primary categories.
“The idea is to solve for all operational bottlenecks and give each brand enough focus on its branding, launching new selection, formulating platform-level strategies independently for it to thrive, unlock hypergrowth and unleash its true potential.” Evenflow’s co-founder and VP of Acquisitions, Pulkit Chhabra, remarked.
More than $300 billion in GMV is sold by third-party merchants on Amazon globally, and this figure will rise to $650 billion by 2025. Although they offer a wide range of products, they lack the knowledge and capital to grow, where aggregators come in. As of 2020, Amazon India will have the most vendors registered of any Amazon marketplace in the world.
Evenflow intends to develop sports, kitchens, and gardening as solid brands in a generally unorganized market, with an increasing gap between market leaders and others, due to the under-penetration of these categories.