&w=3840&q=100)
Brnd.Me sells MensXP parent ILN to RPSG Group in portfolio overhaul
The company confirmed the transaction but declined to disclose financial terms.
'Yes, we have sold ILN Network to RPSG Group. We have taken some strategic calls to simplify our portfolio, which led to the divestment of some of our financial and non-strategic assets, including ILN. We cannot disclose financial details regarding the same,' the company said in a statement.
The all-cash transaction was reportedly valued at approximately $9 million, marking a sharp decline from the roughly $60 million price tag Brnd.Me paid for the asset—representing a drop of about 85 per cent in valuation.
Brnd.Me said the firm is profitable with strong positive cash flows and owns brands that are global leaders in their spaces. The company also clarified that it is not looking to sell any of its businesses to raise funds. It has two clearly defined verticals: health and wellness, contributing 60 per cent of revenue, and lifestyle, which accounts for the remaining 40 per cent.
'We foresee tremendous growth potential for our current brands, both domestically as well as internationally, and believe that the time is right to build global brands from India—and Brnd.Me is leading this change,' the company added.
In December 2022, Mensa Brand Technologies Pvt Ltd—the parent company behind several direct-to-consumer labels under the Mensa Brands umbrella—teamed up with India Lifestyle Network to acquire a portfolio of digital lifestyle properties from Times Internet. The deal included the men's platform MensXP, the women-focused site iDiva, and the creator marketing firm Hypp. Financial terms were not disclosed.
At the time, Mensa said the acquisitions were aimed at strengthening its digital brand-building capabilities and driving synergies in its push to create a next-generation, digital-first consumer business.
The company had noted that the platforms collectively attracted 40 million monthly users and 250 million monthly content views.
In May 2023, Mensa Brands laid off around 30 employees from India Lifestyle Network (ILN).
In November 2021, Mensa Brands had raised $135 million at a valuation of nearly $1.2 billion, making it the fastest Indian start-up to reach unicorn status.
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