The fastest startup to join the ever-growing Indian unicorn club- Mensa Brands acquired a direct-to-consumer(D2C), home-grown denim brand, High Star, as a part of a series of possessions it has done this year.
The startup came off with flying colours just in six months when it became the fastest startup to enter the group of Indian unicorn clubs. The founder of the Indian direct-to-consumer (D2C) brand aggregator Mensa Brands on November 19 told CNBC that it has become a unicorn and is already profitable after closing a $135 million Series B fundraising round.
“We are excited to welcome High Star to our tech-led house of global brands. Together, we are working towards boosting the brand’s growth trajectory, setting a target of achieving a 10x gross turnover for the brand within the next 4 to 5 years. Our team has outlined a strategic roadmap for expanding the brand’s footprints in the domestic and international markets across channels to reach consumers and continue to improve customer experience,” Ananth Narayanan, Founder and CEO of Mensa Brand confirmed the deal and said.
Earlier this month, Mensa acquired Mumbai-based home décor and kitchenware brand Folkulture. High Star has become an emerging brand of denim, which has become popular on leading Indian e-commerce platforms, including Myntra, Ajio, Flipkart and Bewakoof.com, among others.
“Being part of Mensa Brands will help High Star scale to the astronomical levels we aim for. Mensa’s team will bring their expertise to expand the brand’s presence pan India and take it global. Within the first year of onboarding, Mensa will support us in areas such as digital marketing, technology, working capital management and channel expansion,” Rohit Mirchandani, Founder of High Star, said.
