New Delhi, June 14 (Ajit Weekly News) Direct-to-consumer (D2C) company Mensa Brands on Tuesday said it has acquired homegrown smart wearable brand Pebble for an undisclosed sum.
Founded in 2013 by Ajay Agarwal and Komal Agarwal, the acquisition will strengthen Pebble’s online footprint in the country.
Mensa Brands registered net revenue run rate of Rs 1,500 crore in the first 12 months of operations.
It has become India’s largest D2C tech-led house of brands with over 20 brands across fashion, beauty and lifestyle categories under its umbrella.
“In the fast-growing smart wearables segment, we believe Pebble stands apart as it perfectly combines fashion with cutting-edge technology,” said Ananth Narayanan, Founder and CEO of Mensa Brands.
Narayanan was previously the CEO of Myntra and Medlife and a senior partner at McKinsey & Company.
Pebble offers audio products, fitness wearables and charging solutions and has nationwide offline distribution.
“Being part of Mensa Brands will help strengthen our position in the wearables market and open up new opportunities for us to leverage,” said Komal Agarwal, Co-founder of Pebble.
Mensa currently has 700 employees in Bengaluru, Mumbai and Gurugram, and plans to hire another 700 people this year.
–Ajit Weekly News