Amazon Private Brand Aggregator Thrasio Investing $500M for India Expansion

Amazon private brands aggregator Thrasio Holdings is planning to invest over $500 million to enter the marketplace in India following the acquisition of India’s direct-to-consumer (D2C) durable brand Lifelong Online.

“In addition to acquiring and growing digital-first businesses, we plan to participate in the ‘make in India’ movement by transitioning the manufacturing for some of our products to the country,” Carlos Cashman, Thrasio’s chief executive officer, said in a statement to Bloomberg on Friday (Jan. 14).

See also: Thrasio Adds Product Development, Launch Capabilities to Acquisition Expertise

Headquartered in Walpole, Massachusetts and launched in 2018 by co-founders and co-CEOs Carlos Cashman and Joshua Silberstein, Thrasio has acquired more than 200 brands and posted over $1 billion in annual revenue.

The startup is backed by Silver Lake and counts Mensa Brands and GlobalBees Brands among its top competitors. Thrasio is one of many companies snapping up promising sellers and smaller operations on Amazon’s marketplace that can be scaled internationally.

Read more: Thrasio Grabs $1B+ in Private Funding Round

One in six households has bought a Thrasio product through Amazon, Thrasio estimates, according to PYMNTS. The startup acquired Cleveland-based retailer IdeaStream last month and now has access to expertise about brick-and-mortar enterprises.

In October, Thrasio raised more than $1 billion in a Series D fundraising effort led by technology investment platform Silver Lake, increasing Thrasio’s valuation to more than $5 billion. The startup has raised over $3.4 billion to date.

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Thrasio’s move into India follows September acquisitions of mattress protector company SafeRest, camping equipment company Wise Owl Outfitters and home bedding company Danjor Linens, PYMNTS reported. The acquisitions are anticipated to bring in sales topping $90 million in the first year.

“We take beloved products, invest the resources to solidify their category leadership on Amazon, and then we increase their sales footprint through international expansion and other channels. When a brand comes into our portfolio, it gains immediate value from our proven flywheel to grow stronger and reach even more happy customers,” Cashman said in a September press release.