GlobalBees has announced two more investments today as new-age brands, Yellow Chimes, a leading fashion jewellery brand and Absorbia, an innovative home care brand, join its portfolio.
The founders along with a 29 member team of Yellow Chimes and 7 member team of Absorbia, will become a part of GlobalBees family.
With this acquisition, GlobalBees has forayed into the fast-evolving fashion jewellery market that is estimated to reach $2.12 billion by 2027. On the other hand, Absorbia is the second company that GlobalBees has partnered with from the home care segment, which is presently valued at nearly $7.8 B=billion in 2021.
Nitin Agarwal, CEO, GlobalBees, said,"Yellow Chimes and Absorbia are a strong addition to our portfolio. We look forward to establishing each of these brands globally and achieving new milestones. Going forward, we will continue to work with innovative brands across diverse and fast-growing categories."
Founded in 2014 by Megha Mittal and Anuj Khemka, Yellow Chimes offers trendy and affordable fashion jewellery through online marketplaces such as Amazon, Flipkart and Myntra. With its origins from a small home to operating a 6,000 feet warehouse in Bangalore, Karnataka, Yellow Chimes has touched base with nearly a million customers across India.
Megha Mittal, Co-Founder, Yellow Chimes said, "Earlier there was not much awareness of crystal jewellery in the Indian market and purchasing jewellery online was not common. However, there was a growing need to own trendy and affordable jewellery. We identified this opportunity and launched Yellow Chimes. Today our product portfolio has crossed over 2500 SKUs. With GlobalBees as our partner, we have the opportunity to disrupt the fashion jewellery market globally."
Founded by Prabhav Sharda in 2009, Kolkata-based Absorbia, is a home care brand. Initially, it launched a range of moisture absorber products for Indian homes to address issues caused by moisture damage such as mould and fungal growth and musty odours in clothes and living spaces. At present, the homecare brand offers a variety of products that are plant-powered and non-toxic.Prabhav Sharda, Founder, Absorbia said, "We entered India with a product that Indians didn't even believe that they needed, and with constant innovation, we carved a niche in the home care market. We are proud of what we have achieved so far, and becoming a part of a like-minded company such as GlobalBees is a fantastic milestone in our journey."
GlobalBees' current investments include sustainable home care products company - The Better Home, the women's health solutions company - andMe, and the homegrown millennial skincare brand, Prolixr. The company is in talks to close 20+ brands within this financial year.