Times Internet is a part of the Times Group, which also publishes The Economic Times.
Together, these properties have more than 250 million monthly visits across social platforms, the company said in a statement. While MensXP publishes male lifestyle related content, iDiva caters to female users.
After the acquisitions, the three platforms will continue to operate as independent brands and destinations in their respective segments.
For Mensa, which was founded by former Myntra CEO Ananth Narayanan, the acquisition is significant as it believes content is key to building strong online brands. The company has acquired a number of online lifestyle brands — including men’s shirt brand Dennis Lingo, fragrance brand Villain, and saree brand Karagiri — that have gained traction on ecommerce marketplaces like Amazon, Flipkart, Myntra and Nykaa.
But as ecommerce has matured in India, it has become increasingly difficult and expensive to acquire customers by advertising on ecommerce platforms, or on Facebook or Google. Promoting products through in-house content is one way for Mensa to make these emerging online brands household names.
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“In the current digital ecosystem, key digital landlords like Google and Facebook are scaling up rents, which are expected to grow further,” Narayanan told ET. “We have devised this strategic acquisition to leverage Times Internet’s MensXP and iDiva’s captive audience of over 35 million MAUs (monthly active users), allowing us to leverage in-house traffic and ultimately drive commerce.”
“We are proud to have nurtured and developed such iconic brands for the next generation of India,” said Satyan Gajwani, vice chairman of Times Internet. “More than just being content destinations, these brands have proven to be impactful in shaping customer purchase behaviour. Ananth and Mensa have a powerful concept, and these businesses will certainly help accelerate their vision.”
Roll-up commerce or brand aggregating companies like Mensa Brands buy multiple online sellers that operate on Amazon and other ecommerce marketplaces, and with the aid of better management and shared expertise, help them scale.
Narayanan told ET on May 31 that over 30% of the company’s revenue now comes from markets outside India, and that 50% of its brand portfolio is available outside the country. The company started selling its products in markets like the United States, the Middle East, Singapore and Canada after hitting a net revenue run rate of Rs 1,500 crore ($200 million) in its first year of operations.
Other big roll-up commerce companies in India include SoftBank-backed FirstCry’s Globalbees, Flipkart-backed Goat Brand Labs, Fireside Ventures-backed 10club, and Upscalio.
