14th June 2024
On-line youth vogue model Styched on Monday introduced that it has acquired Flatheads, a direct-to-customer on-line informal sneaker startup, which was featured in Shark Tank India season 2. The startup didn’t safe any funding from buyers on the fact present.

The deal, structured as an all-equity transaction, marks Bengaluru-based Styched’s entry into the footwear section.

“Styched plans to include its production-on-demand know-how into the footwear class, enabling the seamless enlargement of Flatheads’ current assortment,” the corporate mentioned in a press assertion.
Based in 2018 by Ganesh Balakrishnan and Utkarsh Biradar, Flatheads is a D2C model that makes informal sneakers for the city viewers. Its backers embody We Founder Circle, LetsVenture, and angel buyers.

“The technical knowhow of Flatheads would actually assist us create a wideranging inexpensive sneakers assortment. So, whereas Styched will proceed to play within the sub Rs-1,000 section, the semi-premium section would have Flatheads because the flagship model.”

Styched mentioned that originally, Flatheads will proceed providing its current vary of merchandise, with all departments now being operated and managed by Styched. “This growth will probably be adopted by an aggressive hiring part geared toward strengthening the footwear division inside Styched, in the end elevating the general providing,” the corporate added.

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“The Flatheads-Styched deal offers new wings to our concept of making distinctive footwear for the younger Indian. The market is evolving, and it will likely be a singular journey for the class, totally different from different components of the world. It will likely be fulfilling to see Flatheads being an integral a part of the market creation and development,” mentioned Ganesh Balakrishnan, cofounder of Flatheads.

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