This Unicorn Is High On Funds, Acquisitions And Hiring

Photo by Laura Davidson on Unsplash

It’s remarkable how well rollup eCommerce startup Mensa Brands has been doing vis-a-vis startups struggling to remain afloat amid a severe fund crunch.

In its first year of operations itself, the Thrassio-style startup has already hit a net revenue run rate of Rs.1,500 Cr. Plans to expand global footprints across the United States, Middle East and Canada are already in the pipeline.

Doubling Digits: Founder and former Myntra CEO, Ananth Narayanan, has revealed that the firm is now targeting double its net revenue run rate to Rs 3,000 Cr in the next 12 months. In October last year, Dennis Lingo, a men’s apparel brand, was acquired by Mensa and has already grown 2X in terms of revenue.

Secret Sauce: Narayanan described the company’s technology as the “secret sauce” that has helped it achieve scale with positive unit economics. Acquisitions are expected to get cheaper for rollup commerce space, especially in this funding dry-out environment.

More On The Mind: After making its mark in fashion, beauty and home, Mensa plans to foray into homegrown consumer electronics. The firm already operates 20 online brands and will look to add another 20 more to its kitty.

The rollup e-commerce has followed a brand aggregation strategy since its inception in May 2021 and has served over 5 million customers.

Omnichannel play: 10% of Mensa’s overall revenue is now from offline. Over 30% of the company’s revenue comes from markets outside India, and 50% of its brand portfolio is available outside the country across the US, Canada, UK, Germany, Singapore, and UAE. 

Hiring>>Firing: The job market has become a battlefield since The Great Resignation began. In a scary environment like this, Mensa, which has 700 employees across its three central offices in Bengaluru, Mumbai and Gurugram, plans to hire another 700 in the coming year.

Too long? Here’s a one-liner: Mensa Brands hits a net revenue run rate of Rs. 1,500 Cr in its first year, plans to expand global footprint, hire 700 by next year and acquire 20 more brands.

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