House Of Brands Company (HOBC) secures a strong seed funding to build "Thrasio for premium brands"
Jun 07, 2022
New Delhi [India], June 7 (ANI/PNN): House Of Brands Company (HOBC), a premium D2C aggregator startup founded on the lines of Thrasio, has secured its seed funding from a clutch of investors. The firm saw participation from Ah! Ventures, LetsVenture and IITIITM Angels, along with marquee investors and family offices in this round.
HOBC was founded by Roopam Nayak and Sreelaj John in May 2021. The company calls itself the "Thrasio for premium brands."
HOBC has revealed that it has added 5 premium brands in the fashion and lifestyle segment to its portfolio in less than six months. So far, it has been operating under the radar and building its portfolio.
Sreelaj John, the co-founder of HOBC, commented, "The company is founded on a vision to breathe life into everyday products, uncompromising on quality, accessibility, or affordability. We have worked very hard to create amazing designs. We wish to concentrate on bringing high-end brands to the Indian population. Further, this segment of 15-20 million upper-middle-class customers forms only 1 per cent of the Indian population but generates 70 per cent of all eCommerce revenue in India, making this group the ideal market for any D2C brand." He further added, "HOBC is on track to acquire 8 more brands by the end of the financial year. We are also the only Indian aggregator solely focussing on premium brands."
The company aims to emulate the highly successful Thrasio model. This concept is relatively new to the Indian start-up scene but has acquired pace, garnered attention, and resulted in significant financing for the firms associated with it in recent months. A few Indian companies like MensaBrands, GOAT Brand Labs, GlobalBees, Evenflow, Powerhouse91, UpScalio and 10Club, most of which launched in 2021, are built on the Thrasio model. HOBC is set to enter the Thrasio club and give a strong competition to these existing eCommerce aggregators.
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