In an all-equity deal, the direct-to-consumer (D2C) casual sneaker startup Flatheads was acquired by the online youth fashion retailer Styched.
Styched will enter and grow in the footwear industry after acquiring Flatheads. Additionally, the business intends to apply its production-on-demand technology to the footwear market, allowing for a seamless expansion of Flatheads’ current line.
Ganesh Balakrishnan and Utkarsh Biradar founded Flatheads in 2018, a company that specializes in creating all-day wearable casual sneakers for urban consumers. In order to meet the special demands of the tropical Indian climate, it makes the claim that it was the first Indian brand to introduce shoes made of bamboo fiber.
We Founder Circle, LetsVenture, and angel investors among others support the Bengaluru-based startup.
In the beginning, Flatheads will continue to sell its current selection of goods, with Styched now running and overseeing all departments. After that, there will be a hiring phase intended to improve Styched’s footwear division and, ultimately, raise the quality of the entire offering.
