Through Powerhouse91 we intend to provide a platform to expand its reach further and accelerate its growth multifold
Fast growing E-commerce aggregator, Powerhouse91 announced the acquisition of sports and fitness brand – Slovic. This development follows the company’s recently concluded acquisition of feminine wellness brand Azah.
Co-Founder of Powerhouse91, Shashwat Diesh, shares his thoughts on the acquisition, “Our goal at Powerhouse91 is to create an umbrella of brands that have significant potential to grow and thrive. Slovic, in a span of only a couple of years, has built a loyal following among a large pool of customers through its highly rated line of fitness products. Through Powerhouse91 we intend to provide a platform to expand its reach further and accelerate its growth multifold.”
Nikhil Agrawal, Co-Founder at Powerhouse91, further added, “This event marks another significant milestone in our journey and strengthens our thesis of acquiring high growth businesses which are complementary to our portfolio.”
Slovic Founder, Akshay Gare, shares this enthusiasm, “The partnership between Slovic and Powerhouse91 is an extremely delightful outcome for us and we are confident in their vision of making Slovic a new-age household fitness brand. As the brand’s founders, nothing would make us more happy to see Slovic prosper and flourish in the right set of hands.”
Through a combination of optimisations across marketing, supply chain and operations combined with significant growth capital, Powerhouse91 aims to grow Slovic by 15-20x over the next few years and establish it as a prominent brand in the sports & fitness category.
Slovic, with more than 10,000 ratings on Amazon and a rating of 4.3+ already has a large customer base making it the leading brand for products such as resistance bands & tubes.
With a founding team comprising more than 30 years in Ecommerce and backed by leading investors Titan Capital and Crossbeam Ventures, Powerhouse91 intends to acquire, innovate and grow new age disruptive consumer brands across different categories.
Source: Business World