02 October 2023, Mumbai
Singapore-based direct-to-customer (D2C) fashion and lifestyle brand, Styched, has successfully acquired Zymrat, a trailblazing performance-wear brand.
This strategic move marks Styched’s second acquisition, following the notable success of its previous venture, Flatheads, which gained recognition on Shark Tank India Season 2.
Nuanced process
The acquisition was finalized through a combination of cash and equity swap arrangements, complemented by the talent acquisition of the skilled Zymrat team. While the precise financial terms remain confidential, this milestone underscores a significant achievement for both companies.
At the time of the acquisition, Zymrat boasted an impressive Annual Recurring Revenue (ARR) of USD 1 million, reflecting its robust market presence and promising growth potential. This acquisition is a testament to Styched’s commitment to expanding its product portfolio and strengthening its position as a leading D2C fashion brand.
Benefits for Styched and Zymrat
This acquisition is mutually beneficial for both Styched and Zymrat. Styched will gain access to Zymrat’s expertise in the performance-wear segment, enabling it to expand its product offerings and cater to a wider range of customers.
Additionally; Styched’s strong distribution network will help Zymrat reach a larger audience and accelerate its growth.
Zymrat, on the other hand, will benefit from Styched’s financial resources and operational expertise. This will enable Zymrat to invest in product development, marketing, and customer service, further enhancing its competitive edge in the market.
