Styched acquires sneaker brand Flatheads

Clothing and accessories brand Styched has acquired sneaker brand Flatheads and plans to bolster its own footwear offering while expanding Flatheads’ product selection. The brand also plans to harness Flatheads’ popularity and move into the semi premium footwear market. 

“The technical know-how of Flatheads would really help us create a wide range of affordable sneakers collection,” said Styched’s CEO Soumajit Bhowmik, ET Retail reported. “So, while Styched will continue to play in the sub-Rs 1,000 segment, the semi premium segment would have Flatheads as the flagship brand.”
 
Flatheads retails sneakers for men and women and uses a variety of natural fabrics including linen, banana fabric, and bamboo fabric among others, according to the brand’s Facebook page. The brand has a modern, paired down aesthetic and describes its design as, “environmentally relevant” on its website. Flatheads has e-commerce stores for both the Indian and US markets. 

“We have been following Flatheads for quite some time, and I have personally interacted with Ganesh [Balakrishnan, Flatheands’ founder],” said Bhowmik, The Hindu Businessline reported. “The acquisition opportunity came to us through a common investor, and we felt it would be a perfect deal, considering we wanted to launch sneakers within Styched as well.”
 
Flatheads launched in 2018 in Bengaluru and gained pan-India brand awareness when it appeared on the second season of entrepreneurial television show Shark Tank India. To date, the brand has raised funds from LetsVenture and We Founder Circle, as well as angel investors.