The former Group Head Fashion - Flipkart & Myntra, Former CEO – Lifestyle, Home Centre, and Calvin Klein India, Rishi Vasudev had stepped down as CEO of Lifestyle this year in 2021. Speculation is rife about his next venture since the past few months.
On the condition of anonymity, sources tell BWBusinessworld that Vasudev is in advance talks to raise $20million for his next move. His next venture will be called “GOAT Brand Labs”, which is speculated to be in the lifestyle sector backed by leading investors like Tiger Global, Mayfield, and his former company Flipkart. Rishi Vasudev remained unavailable for comment.
If sources are correct, his new venture is loosely based on a model popularized by US-based company “Thrasio”, which has bought and sold over 100 brands on Amazon in the last 3 years. The company has been acquiring sellers’ businesses off Amazon and scale them up. The template works on an accelerated acquisition model offering a stable and fast exit to sellers from Amazon. The model follows a multi-brand and diverse product strategy without the complications of surfing on Amazon for business dealings. The concept is still nascent in India, with companies like GOAT looking to grow 10 to 15 crore sized D2C brands to 100+ crore size in 3 to 5 years.