New Delhi: Styched, a direct-to-customer (D2C) fashion and lifestyle brand headquartered in Singapore, has acquired Zymrat, an innovative performance-wear brand. This strategic move marks Styched’s second acquisition, following its earlier success with Flatheads, which gained recognition on Shark Tank India Season 2.
The acquisition was sealed through a cash and equity swap deal, alongside an acquihire of the talented Zymrat team. While the exact financial details remain undisclosed, it signifies a major milestone for both companies. At the time of acquisition, Zymrat boasted an impressive Annual Recurring Revenue (ARR) of 1 million USD, reflecting its strong market presence and potential for growth.
Soumajit, CEO of Styched, commented, “Zymrat has created a brand known for quality and innovation, aligning perfectly with Styched’s vision to democratize fashion globally. Our decision to join forces was swift, driven by the strong synergies we discovered between our teams and our shared goals.”
Ujjawal Asthana, Co-Founder of Zymrat, stated, “We eagerly anticipate working closely together to take Zymrat to a global audience and continue towards our larger vision, which is to redefine athletic wear for athletes around the world.”
Under Styched’s guidance, Zymrat will harness the power of production-on-demand technology to expand its product line and make its high-quality products accessible to a wider audience by reducing price points.
Durga, COO of Styched, expressed excitement about the acquisition, saying, “This unified platform presents an exciting opportunity to blend our strengths, innovate further, and bring exceptional fashion and performance wear to our valued customers worldwide.”
Ankita Riva, Co-Founder of Zymrat added, “Our goal is to expand Zymrat’s product offerings across various categories and price points for both men and women, delivering the very best in performance wear and athletic fashion to a diverse global clientele.”
