10Club acquires three brands, bets big on the lawn and garden category
The home category has seen massive growth through the pandemic and is a key focus area for the company.
, a Bengaluru-based e-commerce roll-up player, on Friday announced the acquisition of three lawn and garden brands — Kraftseeds, Gate Garden and Kriti Kalash. The brands specialise in seeds, soil, flower bulbs, manure, planters, tools and every other kind of equipment a consumer might need for their home gardening needs.
10Club Co-founder and COO Deepak Nair said,
“We are extremely bullish on the home category and the acquisition of three strong brands in the lawn and garden segment gives us a strong foothold and more importantly will complement the six new acquisitions that we will announce shortly. With these acquisitions, we will be clocking a revenue of over $50 million in the home category alone.”
The category saw an unprecedented spike during the pandemic, according to a statement from the company. 10Club believes that this trend is here to stay and aims at focusing its energies on capitalising on the growth in this category. As per the startuup's estimates, the current category size is about $900 million with less than 10 percent online penetration, growing at over 70 percent YOY in 2020-2021.
The founders of the brands Kraftseeds, Gate Garden and Kriti Kalash saw promise and potential in their business almost two decades earlier. Regardless of the challenges of a category that wasn’t as lucrative back then, the founders spent a considerable amount of time understanding preferences of the urban consumer and took this nascent business online via Amazon.
Expressing their thoughts on the acquisition, Gaurav and Shaina, Founders, said,
“Over the past 20 years, we've worked hard on building a strong business that has emerged as a category leader on Amazon. Our vision for Kraftseeds, however, is so much larger. We want to reach more households across India, encouraging consumers to grow plants and fall in love with gardening. We believe that to achieve this, 10Club is the right partner for us as they are equipped with an extremely capable team and are aligned with our vision.”
Today Kraftseeds is a brand for gardening tools and seeds on Amazon with an offering of 3,600 SKUs on the platform.
Earlier this year, 10Club raised a seed round of $40 million which saw participation from HeyDay, PDS International, Class 5 Global, Secocha Ventures and founders of hardware startup boAt being the other investors.