Done Deals

Styched enters Footwear and Athleisure

Done Deal facilitated Styched in acquiring D2C brands Flatheads and Zymrat, enhancing their product portfolio and accelerating growth in the footwear and apparel sectors
Published by
Aneesh Sivakumar
May 28, 2024

Objective: Two prominent D2C brands in footwear and apparel had scaled well and were now looking at a strategic investor to come aboard to help solve their working capital constraints. Flatheads even received an offer on Shark Tank, but declined since it was not aligned with what the founder and investors wanted as an ideal deal construct.

Done Deal Edge: Buyer was looking to acquire product capability quickly with smaller bolt-on opportunities but did not have reliable deal flow to evaluate. They were presented with several opportunities across footwear, athleisure and apparel and quickly narrowed down on the most promising deals to make offers and close them.

Perspective: The key challenge here was the brands were of a relatively small scale and hence, sub-scale for the larger players. They also operated in very niche competitive segments. The value was largely tied to the strong brand recall in their respective segments, product know-how and customer base. 

Solution: The sellers had 20+ conversations with potential buyers through the platform before signing up with a funded startup in the apparel space who was looking at diversifying their product offerings. 

Outcome: Styched acquired both brands and added them to their product portfolio adding the brands and product know-how to their arsenal. They expect these acquisitions to help fast track their own growth and future fund-raise

Ujjawal, Zymrat Co-founder:  “We eagerly anticipate working closely together to take Zymrat to a global audience and continue towards our larger vision, which is to redefine athletic wear for athletes around the world.”

Soumajit Bhowmik, CEO, Styched "The technical know-how of Flatheads would really help us create a wide range of affordable sneakers collection. So, while Styched will continue to play in the sub-1000 INR segment, the sub-1000 INR segment, the semi premium segment would have Flatheads as the flagship brand

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