NS JV The entity primarily holds a Pepe license for categories such as innerwear, lounge wear, socks and sleepwear. According to Rishi Vasudev, Cofounder and CEO, Bakri Brands, Bakri Brands plans to acquire more brands in the space and thus the name of the JV entity will change. He was previously the fashion head at online marketplace Flipkart. According to a statement by Goat Brands, Pepe had offered to exit the Indian entity and asked Dollar to buy out Pepe’s entire stake in accordance with their original agreement, which granted the latter a right of first offer (ROFO). did. Dollar later agreed to transfer the shares held by Pepe to Goat Brand.
The Bengaluru-based Bakri brand is said to have bought Pepe’s stake for around Rs 15-20 crore and the new license for India will be valid for two decades. Vasudev declined to comment on the details of the transaction. He said the company would look to tap the expertise of Dollar Industries to acquire an early-stage D2C (direct-to-consumer) brand.
“The innerwear market has always been a focus category for us. With Dollar Industries Limited, we plan to create a wider offline and online presence for the brand and add more brands to our portfolio in the future,” said Vasudev. The current focus of the firm is on building and growing its online presence and it will explore the possibility of setting up stores later in the future.
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The Bakri brand is one of the new wave of startups in the e-commerce space, which are acquiring early stage D2C brands and growing them online as well as offline. Recently it announced 11 strategic investments in D2C brands across sectors such as fashion, beauty-skin care, pets and home and kitchen. Men’s Brands is one of the leading names in the GlobalBees space, the first of which to become a unicorn — a startup valued at $1 billion or more — in just six months. In July, Goat Brands raised $36 million in funding in a mix of equity and debt capital.