Styched, a direct-to-customer (D2C) fashion and lifestyle brand headquartered in Singapore, has acquired Zymrat, an innovative performance-wear brand. Styched’s second acquisition comes after its earlier success with Flatheads, which attracted attention 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. It marks a significant milestone for both companies, even though the precise financial information is being kept quiet. Zymrat had a significant market presence and growth potential, as evidenced by its remarkable Annual Recurring Revenue (ARR) of $1 million at the time of acquisition.
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 make use of production-on-demand technology to broaden its product offering and reduce the cost of its high-quality products in order to reach a wider audience.
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.”