Brands aggregator Mensa Brands has acquired Kolkata-based leather goods maker, Estalon, for an undisclosed amount, the company said in a statement on Tuesday. The acquisition marks Mensa Brands’ foray into the growing leather goods segment. It has now acquired a total of 15 brands.
Estalon was a family-owned firm with three generations of leather manufacturing experience. It specializes in leather goods for women, including handbags, shoulder bags, purses, men’s wallets, folios, gloves, and other accessories. Estalon is currently available in the US through Amazon.
“We envision Estalon becoming a leading global leather accessories brand from India with its strong product line and quality leather workmanship. The Estalon team has decades of experience in leather manufacturing, and we believe that with Mensa’s complementary skills in technology, operations and brand building, it is poised to achieve a high growth rate of 5X of the market in the next three-five years,” said Ananth Narayanan, founder and chief executive officer of Mensa Brands.
Mensa Brands, founded in 2021, follows a ‘house of brands’ or brand aggregation strategy, in which it acquires and partners with digital-first brands, to accelerate growth by providing on-the-ground expertise and tech-led interventions in marketing and operations. In December, Mensa acquired Mumbai-based home décor and kitchenware brand Folkulture.
Source: Mint