Mensa Brands, an ecommerce roll-up firm, has reportedly acquired its 13th brand Folkulture, a home décor brand. The brand, established in 2015, retails largely on ecommerce giant Amazon in Canada, the UK, and the US, apart from other platforms. Some of its products are Home Décor, Kitchen & Dining Linen, Incense Holders, Mandala Tapestry and more
Commenting on the latest move, Founder and CEO of Mensa Brands, Ananth Narayanan stated that Folkulture is a significant collaboration for the group in the demanding home décor category, one of the major areas where the firm is considering its probabilities in the local and international markets.
Ananth mentioned that the team has also developed a roadmap for Folkulture to grow ten times by 2025. Furthermore, Mensa will also be looking at adding more products and channels for brands in the coming months while also solidifying its presence in the major global markets.
Chaiti Jain and Rinkesh Mehta, Co-Founders of Folkulture believe that with Mensa, the company will demonstrate exponential growth in the coming years. Additionally, Folkulture is gratified to be supported by such an amazing team.
Notably, the brand recorded an average of 2 units of sale every minute during the current Cyber Monday sale.
Mensa runs a model similar to the United States based Thrasio, which purchases well-reviewed and profitable sellers on Amazon and amplifies their growth with marketing, technology, and product growth chops. The other 12 brands include categories like jewelry, men’s wear, designer sarees, smart devices, and personal care.
It has been claimed that most of the company’s brands have been growing at 100% every year since its acquisition. The 6-month-old venture, which is said to be the fastest Indian startup to become a ‘unicorn,’ closes its end-to-end acquisitions within last 4-6 weeks.
Moreover, the other brands opposing the space include Upscalio, GlobalBees, and GOAT Brand Labs.
Source Credit - https://www.moneycontrol.com/news/business/startup/mensa-brands-acquires-its-13th-brand-home-decor-label-folkulture-7795341.html