**Mensa Brands Shifts Headquarters to India Ahead of IPO Plans**
Mensa Brands, a prominent brand aggregator, is relocating its headquarters to India as it prepares for a public listing. This move aligns with a trend among foreign startups, including Flipkart, Zepto, and Dream Sports, that have also made the transition to better access India’s capital markets.
The company is in the process of divesting its stake in Renee Cosmetics, where it holds approximately 15%, and has already sold its interest in wearables manufacturer Pebble. The stake sale for Renee is expected to value the brand between ₹2,000-2,500 crore, suggesting a valuation of around ₹200 crore for Mensa’s share. Mensa Brands initially invested in Renee in 2022, supporting its cruelty-free makeup line for women.
A spokesperson for Mensa confirmed the sale of its stake in Renee, describing it as a financial investment. The company, which led Renee’s Series A funding round, currently holds about 11% of the brand. However, the spokesperson denied that other brands, including Villain, a men’s cosmetics line backed by Mensa in 2021, are up for sale.
In addition to the stake sales, Mensa Brands is planning to raise $100 million at a valuation of $850 million. The company is transitioning from Singapore back to India, a strategic move to facilitate its future listing in the Indian market. According to sources, the IPO is anticipated to be at least 36 months away.
Founded in 2021 by former Myntra CEO Ananth Narayanan, Mensa Brands has attracted significant seed funding, totaling $207 million from notable investors such as Accel, Alpha Wave Global, and Norwest Venture Partners. The company has adopted a house of brands strategy, acquiring around 20 brands across various sectors, including apparel, beauty, personal care, and home décor. With an annualized revenue run rate of $200 million, Mensa Brands has achieved Ebitda profitability, marking a successful milestone in its growth trajectory.
As the house of brands strategy gains traction in India, Mensa Brands is poised to capitalize on the burgeoning market, further solidifying its position in the industry.
**FAQ**
*What is Mensa Brands planning with its headquarters relocation?*
Mensa Brands is shifting its headquarters to India to better access capital markets and prepare for a future public listing.
