Styched, an e-commerce fashion brand, has announced the acquisition of direct-to-consumer (D2C) casual sneaker startup, Flatheads, in an all-equity deal. The move aims to strengthen Styched’s footwear department while allowing Flatheads to continue offering its existing product range under Styched’s operational umbrella.
Expansion and Integration
With this acquisition, Styched plans to aggressively expand its footwear offerings and enhance its presence in the fashion market. Flatheads, known for its casual sneaker designs, will contribute its technical expertise to support Styched in launching new sneaker collections.
Vision for the Future
Ganesh Balakrishnan, co-founder of Flatheads, expressed excitement about the partnership, highlighting the opportunity to contribute to the evolving sneaker culture among young Indians. The acquisition aligns with Styched’s vision to cater to diverse fashion preferences and lifestyle choices of its customer base.
Previous Ventures and Funding
Founded in 2018 and based in Bengaluru, Flatheads has received investment support from We Founder Circle, LetsVenture, and other angel investors. This strategic acquisition reflects Styched’s commitment to leveraging synergies and tapping into emerging market trends.
Collaboration for Innovation
Soumajit Bhowmik, CEO of Styched, emphasized the importance of Flatheads’ technical know-how in developing an affordable yet stylish sneaker collection. The collaboration aims to blend Styched’s affordability with Flatheads’ expertise, positioning Flatheads as the flagship brand in Styched’s semi-premium footwear segment.
Driving Market Growth
By combining forces, Styched and Flatheads aim to drive market growth and innovation in the fashion e-commerce sector. The acquisition underscores Styched’s strategic approach to expanding its product offerings and solidifying its position as a leading player in the Indian fashion industry.
