Thrasio Holdings, Inc, a global consumer goods company that acquires private brands on Amazon and scales them up and Lifelong announced Thrasio’s entrance into India and a ₹3,750 crore commitment to acquire promising, digital-first brands in the country on Friday.
Thrasio has acquired Lifelong Online, an Indian online consumer brand that will become a Thrasio company.
“India is one of the fastest-growing regions for Amazon’s third-party marketplace, making it enticing for aggregators,” Thrasio said in an official release.
Lifelong will lead the on-the-ground execution backed by Thrasio’s experience and with the ₹3,750 crore commitment to acquire Indian businesses, the company is aiming to be a significant player in the seller ecosystem.
“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.
“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. Their expertise and local leadership will be invaluable as we make an enduring commitment to India. 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,” Cashman added.
Thrasio has acquired over 200 brands and raised more than $3.4 billion in funding and will continue to deploy those funds across the globe to acquire promising businesses, it said.
With this, Lifelong will now be known as “Lifelong, a Thrasio company” and will be well-positioned to engage with India’s more than 750,000 sellers.
“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,” added Kalia.
“India is a unique market with hundreds of thousands of motivated entrepreneurs,” Cashman further added.
“We are thrilled to provide brand owners with the opportunity to successfully sell their businesses as well as to give consumers greater access to quality products. This is a major step in our evolution and a huge opportunity for India’s sellers,” Cashman said.
Lifelong Online’s current investors Tanglin Venture Partners and the Hero Group will continue their support.