Thrasio, a US-based firm, is set to make its first foray into the Indian market with the acquisition of Indiam consumer durables brand Lifelong Online.
Thrasio developed the model for acquiring and scaling private brands that is now available on Amazon. Today, the company is the largest acquirer of third-party private label businesses in the world.
According to a leading Indian daily, Thrasio has recently held acquisition talks with Lifelong Online. The US company may invest $30-50 million in the acquisition. Lifelong Online focuses on consumer durables such as grooming, kitchen, home appliances, fitness, lifestyle, and accessories.
Tanglin Ventures, which owns a 20% stake in Lifelong Online, is also expected to exit, according to reports. Tanglin Ventures is an early-stage venture fund co-founded by Udaan cofounder Sujeet Kumar and Flipkart group CEO Kalyan Krishnamurthy.
Thrasio will use Lifelong Online to enter the Indian market and expand its operations there. Thrasio has identified India as one of the largest available consumer markets and plans to invest $500 million in the country following the acquisition.
Thrasio’s impending entry into the Indian market comes at a time when several startups have begun to replicate the model. In addition, with the growth of e-commerce in general, there has recently been a significant increase in adoption for direct-to-consumer brands.