Ecommerce roll up firm GOAT Brand Labs has acquired the remaining stake in children's nightwear and loungewear brand Frangipani. According to a statement, all terms of the original plan laid out during the majority acquisition in 2021 were honoured during the deal.
On selling their stake and exiting the company, Frangipani founders Sunaina Patel and Mansi Kilachand, said, "As founders of this business, which was started as a brand for our own kids and has always been a labour of love for us, we are happy that the partnership with GBL has been successful. We hope that in GBL's capable hands, the brand will achieve newer heights.”
Founded in 2012 as a small business from home, Frangipani was born out of both necessity and opportunity for new mothers.
GOAT acquires direct-to-consumer (D2C) brands and scales them with its expertise. The sale of lifestyle products is the single source of revenue for GOAT. Backed by marquee investors - Tiger Global, Flipkart, Mayfield, Winter Capital, Nordstar and Better Capital, GOAT has a portfolio of around 20 brands including its – Chumbak, The Label Life, Pepe Inner Fashion, trueBrowns, Abhishti, Neemli Naturals, Breakbounce, NutriGlow, Voylla and Imara.
“With GBL taking full control, we will continue using all our D2C platform capabilities to accelerate the brand for the next level of growth,” said Rishi Vasudev, CEO and Co-Founder, GOAT Brands Labs.
