Bengaluru-based Mensa Brands, a technology-led ‘House of Brands’ built for the e-commerce industry, today announced the acquisition of a majority stake in personal care brand Florona that primarily targets customers in the USA and Canada.
With this, Mensa Brands has acquired 16 brands so far. Previously, Mensa Brands had acquired Estalon, High Star, Lilpicks, Folkulture, Ishin, among others. Notably, the startup became India’s fastest and globally second-fastest unicorn as it raised $135 million in a Series B funding round in November last year.
Founded by Aayush Gupta, Florona offers aromatherapy and natural personal care products. It currently offers more than 70 types of natural oils including essential oils for diffusers and cold-pressed carrier oils.
“The natural personal care market is growing exponentially across the globe, and together we are building a leading brand in the segment,” Ananth Narayanan, Founder & CEO, Mensa Brands. Ananth Narayanan is also a founding member of Medlife and had been served as the chief executive officer of Myntra.
“We are confident that with our technology, operations, and digital brand-building expertise, we can grow the brand 10X in the next 5 years.” He further said the brand plans to launch a range of aromatherapy bath products and natural skincare and haircare solutions, expand its presence to new markets and build a tech-led global supply chain to best serve the consumers in the market.
Founded in 2021, Mensa Brands is building a tech-led house of brands by investing in and scaling up digital-first brands across diverse categories, including fashion and apparel, home and garden, beauty, and personal care.
Speaking on the association with Mensa, Aayush Gupta added: “We couldn’t be more excited to partner with Mensa in our journey to make Florona a global household name. I believe it is the perfect time to build a world-class personal care brand from India, and with the Mensa team, we are primed to achieve our goal. Ananth and the entire Mensa team have been very supportive in getting us onboard and sharing our philosophy of putting the customer experience first.”