Thrasio Holdings, Inc., a global consumer goods company, recently announced the acquisition of Lifelong Online, a leading Indian online consumer brand.
"We couldn't be more excited to work with Lifelong Online and, together, take our proven model to India," said Carlos Cashman, CEO of Thrasio, in a Jan. 14 press release. "As we got to know Lifelong, it became clear that they are the ideal partner for what we want to accomplish. Their team of proven executives has already built an amazing business, and their understanding of the Indian consumer is unparalleled.”
The company is set to invest ₹3750 crore ($500 million) in India’s digital-first brands, the release stated.
The purpose of the initiative is to strengthen consumer products in the region, which is considered one of the fastest growing among Amazon’s third-party marketplaces, according to the release.
“(Lifelong's) expertise and local leadership will be invaluable as we make an enduring commitment to India,” Cashman said. “In addition to acquiring and growing digital-first businesses, we plan to participate in the 'make in India' movement by transitioning the manufacturing for some of our products to the country.”
Thrasio will continue to disperse funds around the world to collect aggregation skills for the Indian market while Lifelong, will continue working alongside more than 750,000 sellers to increase its local engagement, the release stated.
"India is a unique market with hundreds of thousands of motivated entrepreneurs," Cashman said. "We are thrilled to provide brand owners with the opportunity to successfully sell their businesses, as well as give consumers greater access to quality products. This is a major step in our evolution and a huge opportunity for India's sellers."
Lifelong's CEO shared his excitement with the deal.
"We are building a technology-first, next-generation consumer goods company," said Bharat Kalia, CEO of Lifelong Online. "Thrasio's acquisition expertise and the strength of our platform across ecommerce, D2C, Amazon, and Flipkart are a perfect match. We are already in active discussions with a number of sellers, and we're excited to help Indian entrepreneurs realize the full potential of their brands and products. With lucrative exit options for founders, we hope to encourage even more brands and sellers to join the D2C ecosystem in India."