Mensa Brands acquires homegrown denim brand High Star
, the Thrasio-like startup which was incorporated in April 2021, has acquired High Star, a digital first homegrown denim brand from India for an undisclosed amount. Mensa has been investing in digital-first brands operating in fashion, beauty and home segments, among other categories.
Founded in 2012 by Rohit Mirchandani, High Star offers a wide range of denim products and has expanded its range in menswear, women wear, and kids wear segments. Speaking on the acquisition, Ananth Narayanan, Founder and CEO of Mensa Brands, said,
“Together with High Star, we are working towards boosting the brand’s growth trajectory, setting a target of achieving a 10x gross turnover for the brand within the next four to five years. Our team has outlined a strategic roadmap for expanding the brand’s footprints in the domestic and international markets across channels to reach consumers and continue to improve customer experience.”
High Star is available on Indian ecommerce platforms, including Myntra, Ajio, Flipkart and Bewakoof.com among others. Rohit Mirchandani, Founder of High Star, said -
“Within the first year of onboarding, Mensa will support us in areas such as digital marketing, technology, working capital management and channel expansion. Being part of Mensa Brands will help High Star scale astronomical levels we aim for. Mensa’s team will bring their expertise to expand the brand’s presence pan India and take it global.”
Recently, Mensa Brands acquired digital-first kids wear brand LilPicks and home decor brand Folkulture. Mensa Brands, India’s fastest startup to be a unicorn this year, has made 13 acquisitions in 2021.
Mensa is backed by marquee global investors including Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus, and Tiger Global Management.
It has also secured debt financing from Alteria Capital, InnoVen Capital, Piramal Capital, Stride Ventures, and TradeCred.
Other brands acquired by Mensa include fashion brand Ishin, Beauty & Wellness brand Hubberholme and ecommerce brand Dennis Lingo.
Edited by Rajiv Bhuva