Mumbai: Strengthening its purse of ethnic lifestyle brands in 2023, G.O.A.T Brand Labs has announced the acquisition of Imara - a popular celebrity-endorsed women’s ethnic apparel brand. Well received by the targeted premium women customers, Imara has expanded its presence in over 70 offline stores, Shoppers Stop who are also a strategic partner of G.O.A.T Brand Labs and online channels like Myntra.
G.O.A.T Brand Labs acquired women’s ethnic wear brand trueBrowns and India’s first celebrity-styled premium women's apparel brand The Label Life in 2022, which have registered a 10x growth individually in just one year. With its in-house operational expertise and capabilities, G.O.A.T Brand Labs has big plans for Imara.
Anjana Reddy’s brainchild Universal Sportsbiz Pvt. Ltd. (USPL) was founded in 2015 under which several successful lifestyle brands like Wrogn, Imara and Ms Taken have been functioning and gaining popularity across India. As part of USPL, Imara is shaking the premium ethnic wear segment in India by introducing quality, trending products at unbeatable prices. Having been successful in attracting the Indian youth, Imara is also becoming increasingly popular among women in their 40s and above, thanks to its timeless designs.
G.O.A.T Brand Labs CEO & co-founder Rishi Vasudev said, “We heartily thank Anjana Reddy for trusting G.O.A.T to help scale Imara in reaching new heights. Having deeply rooted itself in the Indian premium apparel segment with a mixed presence in both online and offline channels – especially G.O.A.T’s strategic partner Shoppers Stop, Imara has great potential to be promoted further within the country and globally. We at G.O.A.T are strategizing concrete opportunities to make Imara available globally.”
Interestingly, G.O.A.T Brand Labs announced the acquisition of premium lifestyle brand Chumbak and four other D2C businesses earlier this month. Following Imara’s acquisition, G.O.A.T Brand Labs’ portfolio now has a significant base of premium women customers and a presence in both offline and online channels.
