PH91 Pvt Ltd, the operator of ecommerce aggregator Powerhouse91, on Monday, said it has acquired sports and fitness brand Slovic for an undisclosed amount.
Powerhouse91 said it aims to grow Slovic by 15-20x over the next few years. It did not specify the number of years.
"Through Powerhouse91, we intend to provide a platform to expand its (Slovic) reach further and accelerate its growth multifold.” Shashwat Diesh, Co-Founder of Powerhouse91, said in a statement.
The deal follows the company’s recently concluded acquisition of feminine wellness business Azah Personal Care Pvt Ltd. Azah was founded by Powerhouse91 founders and was backed by Titan Capital in 2019.
“Our goal at Powerhouse91 is to create an umbrella of brands that have significant potential to grow and thrive," Diesh said.
Slovic, which is operated by Slovic Enterprise LLP, offers products such as resistance bands and tubes.
Founded in 2021 by Shashwat Diesh and Aqib Mohammed, Powerhouse91 is the latest entrant to the Thrasio- style business model, which has drawn keen investor interest over the past few months.
Massachusetts headquartered startup unicornThrasio acquires and scales brands to sell on ecommerce platforms.
In India, Mensa Brands founded by former CEO of Myntra Ananth Narayanan, FirstCry backed GlobalBees and Fireside backed 10Club, among others have adopted a similar model.
