Styched, an online apparel brand based in India and founded in 2019, acquired Flatheads, a direct-to-customer (DTC) online casual sneaker start-up that gained attention after appearing in season two of Shark Tank India.
The Bengaluru-based company aims to expand into the footwear category with the acquisition of Flatheads. It also plans to incorporate its production-on-demand technology to expand Flathead’s footwear collection.
Based in Bangalore, Karnataka, India, Flatheads specializes in designing all-day wear casual sneakers for the urban demographic. Initially, Flatheads will continue offering its existing range of products, with all departments now being operated and managed by Styched. This development will be followed by a hiring phase aimed at strengthening the footwear department within Styched.
On the acquisition, Soumajit Bhowmik, CEO at Styched, said, “We have been following Flatheads for quite some time, and I have personally interacted with Ganesh earlier. The acquisition opportunity came to us through a common investor, and we felt it would be a perfect deal for us considering we wanted to launch sneakers in a big way within Styched as well. The technical know-how of Flatheads would really help us create a wide range of affordable sneakers collections. So, while Styched will continue to play in the sub-1000 Rs segment, the semi-premium segment would have Flatheads as the flagship brand.”
“The Flatheads-Styched deal gives new wings to our idea of creating unique footwear for the young Indian. Styched has changed the operating model of creating and delivering fashion, and I’m very excited to see Flatheads taking the next leap together. Young Indians are just starting to flaunt their sneakers as a new fashion and lifestyle statement. The market is evolving, and it will be a unique journey for the category, different from other parts of the world. It will be fulfilling to see Flatheads being an integral part of the market creation and growth,” said Ganesh Balakrishnan, co-founder of Flatheads.
