Good Glamm initiates arbitration
In our Forty-Fifth D2C Insider edition, explore how Good Glamm initiates arbitration against portfolio company investor IAN, The Essence of Frugality in Startups and more!
Hello and welcome to the world of D2C Insider, your weekly dose of insights, news, and trends from the direct-to-consumer space in India and beyond. In D2C Insider Digest’s Forty-Fifth edition you'll see:
Good Glamm initiates arbitration against portfolio company investor IAN
Good Glamm, a company from Mumbai, is in a legal fight with its investor, the Indian Angel Network (IAN), over unpaid money and broken agreements. The dispute includes issues from past business deals with companies like Sirona and The Moms Co. Good Glamm has gone to the Indian Council of Arbitration to solve these problems, as they owe around Rs 150-160 crore. The company hopes to settle these issues through legal means.
Flipkart-Zepto deal talks falter; quick commerce startup opts for financial investors
Flipkart explored acquiring quick commerce startup Zepto but talks fell through as Zepto declined Flipkart's offer valuing it under $2 billion due to differences over stake size. Zepto is now raising around $500 million from existing investors and scouting for a new lead investor. The deal indicates Flipkart's focus on the burgeoning quick commerce sector to counter rivals like Swiggy, Instamart and Blinkit as the segment gains importance with a projected $34 billion GMV by FY29.
Skechers posts another record-breaking quarter on international, D2C sales
Skechers Soars with Record-Breaking $2.25B Sales, 17% DTC Growth in Q1 2024. The footwear giant announced a stellar first-quarter performance, driven by a 15.2% surge in international sales and a 7.8% domestic increase. Wholesale sales climbed 9.8%, fueled by double-digit growth across EMEA, APAC, and the Americas. Direct-to-consumer sales skyrocketed 17.3%, propelled by substantial gains in APAC, the Americas, and a remarkable 62.4% spike in EMEA. Skechers reported net earnings of $206.6 million and diluted EPS of $1.33, positioning the company for projected fiscal year 2024 sales between $8.725-$8.875 billion and EPS of $3.95-$4.10.
The Essence of Frugality in Startups
Sreejith Moolayil offers a masterclass in frugality for startups, drawing from his personal experiences
Here's a summary of his insights:
Moolayil demonstrates that a frugal approach is vital for the endurance and prosperity of startups. By welcoming cost-conscious practices, entrepreneurs can better face the inevitable hurdles of the startup journey while fostering a culture that values resourcefulness and adaptability.
How Noise Chose the Perfect Brand Ambassador
Gaurav Khatri, co-founder of Noise, shares the strategic journey of scoring a winning partnership by onboarding Virat Kohli as their brand ambassador—an icon whose life narrative resonates with the company's core ethos.
Hitting the Bullseye:
As a leading player in the wearable audio market, Noise knew they needed a brand ambassador who could authentically embody their core values and resonate with their target audience.
The criteria were clear - they wanted someone whose life narrative spoke volumes about health, fitness, and an unwavering pursuit of excellence.
In a country where 9 out of 10 Indians are avid cricket fans, one name stood out: Virat Kohli.
More than just a cricketing legend, Virat Kohli is a role model whose lifestyle exemplifies the very ethos Noise strives to instill in its products. His rigorous training regimen, disciplined diet, and mental fortitude perfectly align with the brand's core values.
During the shoot with the cricket icon, Khatri witnessed Kohli's exceptional attention to detail. "Every pose, every shot had to tell a story," he recounts. "He was extremely focused on sculpting the brand's message with his ethos."
They learned some important things along the way:
Choosing Virat Kohli as their ambassador wasn't easy, but it made sense because he matched Noise's goals perfectly.
With Kohli on board, Noise can reach more people and connect with them better, using his popularity and inspiring story.
Special offers for you
Singapore's Temasek and U.S.-based Fidelity are discussing a $200 million investment in Lenskart, valuing the company at $5 billion. This investment, happening through a secondary share sale, could significantly boost Lenskart's market position, putting its valuation much higher than New York-based Warby Parker. Existing investors like TR Capital and KKR might sell some of their shares, but major stakeholder SoftBank will not be selling this round.
😎 Same As Ever: Timeless lessons on Risk, Opportunity and Living a Good Life
1. D2C Insider Jaipur CXO meet
Say Hello to our very own Shark here! A family man, a seasoned investor, one of the leading sharks on Shark Tank India a visionary and disruptor, we’re elated to have Amit Jain (CEO & Co-founder, CarDekho Group) will be joining us as one of our hosts for our D2C Insider CXO Meet in Jaipur!
2. Elevate Super 30
A. Program Update
Sessions conducted of Elevate Super 30 this week: 🚀
B. Be Part of Elevate Super 30 Cohort 2 by joining the waitlist here
3. D2C Insider Super Angels Fund
Introducing the Early Super Angels of D2C Insider Super Angels Fund – India's first operator-led consumer fund backed by top founders from the D2C space in India!
If you are a startup founder seeking relevant and strategic capital, fastrack your success with the D2C Insider Super Angels Fund!
If you are an angel investor looking for exclusive investment opportunities, the D2C Insider Super Angels Fund is for you!
Stay tuned for more updates and future events. Let's keep taking your D2C business to new heights
Until then, keep rocking the D2C world! 🚀