Thrasio-like startup IDAM plans to expand from seven to ten brands by the end of FY23, Aakash Anand, Founder and CEO of IDAM House of Brands, said.
In July 2021, IDAM, a collective of various direct-to-consumer (D2C) FMCG and beauty and personal care brands, raised funding of $10 million from Ananta Capital. Since then, it has acquired brands across cosmetics, skincare, makeup, nutraceuticals, and food & beverage categories.
Recently, it acquired a 40 percent stake in a coffee brand, Bevzilla. “We are acquiring new brands while helping the old ones grow,” Aakash said, in a recent conversation with YourStory’s Daily Dispatch.
He added that acquiring related brands expands the possibilities of cross-selling and benefits the company.
“The idea is to enter a household with a plethora of brands, which are value-making, sense-making, and of high quality,” he said.
IDAM boasts of Bella Vita Organic, Brave Essentials, Bella Vita Luxury, and Bevzilla as its four major brands. Sharing his plans for these four brands Akash said, “[we want] these brands to be a Rs 10 Crore a month revenue brand.”
He stated, “[We want] to grow all these brands to about $1 million of revenue every month,” describing his goals for the remaining brands.
At present, IDAM is exploring luxury Ayurveda brands, health food brands, and nutraceutical brands to acquire. Since the company is expanding fast, it would soon be out in the market for a fundraise, Aakash said.
Talking about the ongoing trend of forming brand conglomerates, he said that while many people are doing it, not everyone is doing it right. The key is to select high-quality value products that complement one another, which pushes the business forward.
“The products have to be complementary to each other, only then do you get true value out of them,” he said.
