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March 7 E-commerce roll-up company, Mensa Brands has acquired a home storage solutions brand, Pretty Krafts.
Pretty Krafts’ product line-up comprises of closet organisers, laundry bags, shirt stackers, hanging storage units and a host of other home storage products. Founded in 2003 by Kamal and Pratibha Siyal, Pretty Krafts was bootstrapped by the couple in their backyard by employing local women.
Since 2010, Pretty Krafts has expanded across emerging markets and channels with the help of their son, Prateek Siyal. Having served more than 30 lakh customers across India with over 5,000 SKUs, the brand excels at in-house innovative product development.
Prateek Siyal, co-founder, Pretty Krafts, said, “We started Pretty Krafts with an aspiration to make people’s life convenient, decluttered, and organised by providing affordable and innovative products. We are thrilled to embark on a journey with Mensa that will make Pretty Krafts the world’s foremost home storage and organisation brand in the next 5 years. Mensa’s tech-based, data-driven expansion prowess in the digital space and our experience in the space, is a winning global combination.”
Ananth Narayanan, Founder and CEO of Mensa Brands said, “On behalf of the team at Mensa, I’d like to welcome the Pretty Krafts’ team on board. The home storage solutions category continues to register strong growth, both in India as well as globally, giving an impetus to Pretty Krafts to scale, with the right mix of product, marketing, logistics and inventory management. This is where Mensa comes to the fore with a vision to scale the digital-first brand exponentially.”
Mensa acquires digital-first brands operating in different categories, including fashion and apparel, home and garden and beauty and personal care.
Mensa believes that e-commerce in India is at an inflection point of non-linear growth offering the best opportunity to scale global brands from India by leveraging their tech-led growth playbook.
The company is backed by marquee investors such as Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus, and Tiger Global Management. It has also secured debt financing from Alteria Capital, InnoVen Capital, Piramal Capital, Stride Ventures, and TradeCred.
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