Ananth Narayan-led partnered with Pretty Krafts and enters the home storage category. So far, Mensa has acquired over half a dozen brands operating in fashion and apparel, home, beauty, personal care, and gardening.
Pretty Krafts, which was founded in 2003 by Kamal Siyal and Pratibha Siyal, retails laundry bags, closet organisers, hanging storage and shirt stackers, among other home storage products. The bootstrapped firm would sell its products through digital marketplaces, including Amazon and Flipkart.
"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,” said Ananth Narayanan, Founder and CEO, Mensa Brands, in a statement.
Ananth Narayanan, Founder and CEO, Mensa Brands
The firm claims to be selling over 5,000 stock keeping units (SKUs) across India and other emerging markets, according to a release shared by the company. Pretty Krafts is now planning for further expansion.
"We started Pretty Krafts with an aspiration to make people’s life convenient, decluttered, and organized by providing affordable and innovative products. We are thrilled to embark on a journey with Mensa that will undoubtedly 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," said Prateek Siyal, Co-founder, Pretty Krafts, in the statement.
Mensa Brands, which was founded in 2021, achieved unicorn status in less than a year during the unicorn rush across the India startup ecosystem. So far, the House of Brands player has over 16 brands under its umbrella and has raised $300 million in a mix of debt and equity from Accel Partners, Falcon Edge Capital, Tiger Global Management, InnoVen Capital, and Stride Ventures, among other investors.
The firm competes with Globalbees backed by First Cry's Supam Maheshwari, Fireside Venture-backed 10 Club, Mumbai-based Evenflow, Powerhouse91, and UpScalio, among others.
Edited by Kanishk Singh