Apparel brand Styched marks first acquisition with Flatheads

By K Amoghavarsha

  • 17 Jul 2023
(L-R): Soumajit Bhowmik, chief executive officer, Styched and Ganesh Balakrishnan, co-founder, Flatheads

Sensedynamic Fashions India Pvt Ltd, which operates fashion e-commerce startup Styched, on Monday said it has acquired direct-to-consumer (D2C) casual sneaker brand Flatheads in an all-equity transaction, thus marking the startup’s first acquisition.  
 
The financial details of the transaction remained undisclosed. 
 
The Bengaluru-based startup aims to expand into the footwear sector with the acquisition of Flatheads. It plans to incorporate its production-on-demand technology into the footwear category, enabling the expansion of Flatheads' existing collection. 
 
“The technical know-how of Flatheads would help us create a range of affordable sneakers collection. So, while Styched will continue to play in the sub-Rs 1000 segment, the semi-premium segment would have Flatheads as the flagship brand,” added Soumajit Bhowmik, chief executive officer, Styched. 
 
Founded in 2018 by Ganesh Balakrishnan and Utkarsh Biradar, Flatheads specialises in designing all-day wear casual sneakers for the urban demographic. 

In 2021, the D2C startup raised $1 million in a pre-Series A round led by startup investment platform We Founder Circle and Dexter Angels.  The round also saw investors including Gaurav Kapur, founder of Oaktree Sports; Sahil Barua, co-founder of Delhivery; and Radhika Ghai, co-founder of ShopClues.  

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. 
 
Meanwhile, Styched is an apparel brand, which was started in the year 2019. The Bengaluru-based startup raised an undisclosed amount in a seed funding round from angel investors Anjan Dutta, (ex-Educomp), Iqbal Ahmed (Capillary Tech) amongst other investors.