Tiger Global-backed Mensa Brands enters UAE market
Mensa Brands will launch brands including Villain, Pebble and Folkulture on Amazon UAE and Arab-based ecommerce platform noon.
Bengaluru-based house of brandsis foraying into the UAE's ecommerce landscape.
The Tiger Global-backed startup will launch brands including, Pebble and Folkulture on UAE and ecommerce platform noon. It will also launch the peanut butter brand , which falls under Mensa's FMCG portfolio, on and noon Minutes.
Villain, known for its men's lifestyle essentials, will offer a diverse collection of perfumes, personal care products, and lifestyle accessories to the UAE audience. Pebble and Folkulture will showcase avant-garde electronics and cultural heritage.
"Expanding our footprint to the UAE is more than just a geographical move; it's about sharing the essence of our brands with the world. Looking ahead, we're setting our sights on introducing our fashion brands to the Kingdom of Saudi Arabia across all platforms, embracing new horizons and extending our connection with audiences in diverse markets," said Ananth Narayanan, Founder and CEO of Mensa Brands.
Founded by Ananth Narayanan in 2021, the company follows a 'house of brands' strategy through which it acquires several direct-to-consumer brands earning revenue of up to $10 million from operations.
The company was valued at over $1 billion within six months of inception in November 2021, and has raised $201 million to date in equity funding.
In FY22 (its first year of operation), the company generated revenues of $41.2 million (Rs 310 crore), with a loss of Rs 16 crore. It spent Rs 670 crore on acquisitions.
Mensa Brands 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, Oxyzo, Stride Ventures, and TradeCred.
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Edited by Kanishk Singh