Omnichannel Retailer Firstcry to Launch $75-Million Thrasio-Style Investment Venture
India's first Thrasio-style investment venture will be launched by Omnichannel children's retailer Firstcry, with $75 million in capital commitment from investors including Japan's SoftBank, TPG, ChrysCapital, and Premji Invest.
FirstCry, which was launched in 2010 is an Indian online store that sells baby products.
Global Bees will acquire, merge, and accelerate the growth of brands selling goods on Indian eCommerce marketplaces.
Thrasio, the world's largest acquirer of third-party private label businesses on Amazon, popularised the concept, which is gaining traction in India. Approximately a half-dozen investors have already embarked on their own projects to acquire and expand businesses in this manner.
Within three years of its launch, Thrasio had purchased, consolidated, and scaled up over 100 Amazon products. According to the reports, the profitable corporation has earned $1.7 billion in debt and equity and is worth $3-$4 billion.
Over the next three to four years, Global Bees plans to buy 30-40 direct-to-consumer companies, investing $2-$6 million in each. It will help them develop by leveraging the deep customer insights that founders and investors have accumulated over time.
According to the individual with direct knowledge of the company's plans, Global Bees would aim to partner with or acquire brands in all markets, not only Firstcry's mainstay children's segment.
“Small brands do not have the marketing and digital branding bandwidth, the warehousing and logistical support, and the new product development know-how that such ventures can provide,” said another person. “The company will either buy out these smaller brands or will pick up a controlling stake in these companies to work alongside the founders.”
Nitin Agarwal, the former president, and Group CIO, CTO, and Chief Digital Officer at Edelweiss Financial Services, will lead Global Bees, according to sources.
“The venture is already in talks to acquire three to four small brands and an announcement is likely within a month,” a third person with direct knowledge of the company’s plans said.
TPG, ChrysCapital, and Premji Invest, a group of private equity investors, invested around $315 million in Firstcry last month, valuing the Pune-based firm at $1.9-$2.1 billion.
A number of former investors and entrepreneurs have launched their own Thrasio-style investment platforms.
Former CEO of Medlife and Myntra, Ananth Narayanan, is also launching his own Thrasio-like website.
The venture has received $25 million in funding from Accel, Falcon Edge, and Norwest Venture Partners.
Smaller brands are growing in India, with around 8,50,000 vendors selling on Amazon India, with around 4,152 exceeding Rs 1 crore in sales by 2020.
Similarly, there are approximately 350,000 such sellers on Flipkart, with 70 of them have made over Rs 1 crore in sales.
FirstCry, which was launched in 2010 is an Indian online store that sells baby products.
Global Bees will acquire, merge, and accelerate the growth of brands selling goods on Indian eCommerce marketplaces.
Thrasio, the world's largest acquirer of third-party private label businesses on Amazon, popularised the concept, which is gaining traction in India. Approximately a half-dozen investors have already embarked on their own projects to acquire and expand businesses in this manner.
Within three years of its launch, Thrasio had purchased, consolidated, and scaled up over 100 Amazon products. According to the reports, the profitable corporation has earned $1.7 billion in debt and equity and is worth $3-$4 billion.
Over the next three to four years, Global Bees plans to buy 30-40 direct-to-consumer companies, investing $2-$6 million in each. It will help them develop by leveraging the deep customer insights that founders and investors have accumulated over time.
According to the individual with direct knowledge of the company's plans, Global Bees would aim to partner with or acquire brands in all markets, not only Firstcry's mainstay children's segment.
“Small brands do not have the marketing and digital branding bandwidth, the warehousing and logistical support, and the new product development know-how that such ventures can provide,” said another person. “The company will either buy out these smaller brands or will pick up a controlling stake in these companies to work alongside the founders.”
Nitin Agarwal, the former president, and Group CIO, CTO, and Chief Digital Officer at Edelweiss Financial Services, will lead Global Bees, according to sources.
“The venture is already in talks to acquire three to four small brands and an announcement is likely within a month,” a third person with direct knowledge of the company’s plans said.
TPG, ChrysCapital, and Premji Invest, a group of private equity investors, invested around $315 million in Firstcry last month, valuing the Pune-based firm at $1.9-$2.1 billion.
A number of former investors and entrepreneurs have launched their own Thrasio-style investment platforms.
Former CEO of Medlife and Myntra, Ananth Narayanan, is also launching his own Thrasio-like website.
The venture has received $25 million in funding from Accel, Falcon Edge, and Norwest Venture Partners.
Smaller brands are growing in India, with around 8,50,000 vendors selling on Amazon India, with around 4,152 exceeding Rs 1 crore in sales by 2020.
Similarly, there are approximately 350,000 such sellers on Flipkart, with 70 of them have made over Rs 1 crore in sales.
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