Thrasio CEO calls India a big long-term bet, to invest $500 million

Thrasio, the US company that pioneered the model of acquiring and scaling up private brands on Amazon.com, plans to invest $500 million in India because it sees the country as a significant market in the long term. According to Carlos Cashman, CEO of Thrasio

Thrasio has made its first acquisition in India, acquiring a majority stake in Lifelong, a consumer durables brand. Even though the terms of the transaction were not disclosed, Thrasio is said to have paid $150-200 million for the stake. Lifelong, which is backed by Tanglin Venture Partners and the Hero Group, will be renamed Lifelong, a Thrasio company as part of the deal in which existing investors and the company’s founders have taken a partial exit.

“This deal also includes a multi-year structure based on certain milestones,” a person aware of the matter said. Lifelong cofounder Bharat Kalia will lead the operations for Thrasio in India.

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