US based firm Thrasio is all set to foray into the Indian market with its maiden acquisition of Indiam consumer durables brand Lifelong Online.

Thrasio created the model of acquiring and scaling up private brands available on Amazon. The company today is the world’s largest acquirer of third-party private label businesses.

As reported by a leading Indian daily, Thrasio has recently conducted talks with Lifelong Online for an acquisition. The US firm might invest $30-50 Million for the acquisition. Lifelong Online specializes in consumer durables in segments such as grooming, kitchen, home appliances, fitness, lifestyle and accessories.

Reports also suggest that Tanglin Ventures which holds 20 percent stake on Lifelong Online is expected to exit. Tanglin Ventures is an early-stage venture fund backed by Udaan cofounder Sujeet Kumar and Flipkart group CEO Kalyan Krishnamurthy.

Thrasio will leverage Lifelong Online to venture into the Indian market and to grow its business in the country. Thrasio has identified the India as one of the largest available consumer markets and is expected to invest approximately $500 million in the country post the acquisition.

“They (Thrasio) will run India operations through the Lifelong India team. The final contours of the acquisition are being finalised and should be closed in another month or so,” one of the sources told the leading Indian daily.

The news of Thrasio’s impending entry in the Indian market comes at a time when various startups have begun replicating the model. There has also been a significant rise in adoption for direct-to-consumer brands lately coupled with the growth of e-commerce in general.