E-commerce rollup major Evenflow makes third acquisition in three weeks

Evenflow Brands, an e-commerce rollup start-up, has acquired sports and fitness accessories venture Xtrim, making it the company's third acquisition within three weeks. The start-up earlier acquired baby brand BabyPro and Rusabl, an online brand in the daily sustainable category.  

E-commerce rollup ventures typically acquire and operate multiple e-commerce brands or third-party sellers on online marketplaces.  

Founded by former Uber executives Utsav Agarwal and Pulkit Chhabra in 2021, Evenflow acquires online marketplace sellers on e-commerce platforms like Flipkart and Amazon in the range of $200k to $1.5 million per brand.  

Meanwhile, Xtrim - founded by Asghar Ali and Sathish Kumar in 2016 - sells sports, fitness, and outdoor accessories such as gym gloves, joint wraps, belts, among other things and also has a manufacturing unit though it is not a part of the acquisition deal.  

Evenflow has acquired Xtrim at an upfront amount basis EBITDA multiple valuations and performance earnouts spread over three years.  

"The sports and fitness category has witnessed massive growth as people become more health-conscious and working-out-from-home is becoming the new normal," said Pulkit Chhabra, Co-founder & VP Acquisitions, Evenflow.

With Xtrim's acquisition, Evenflow is aiming to create a strong and affordable home-grown brand not only for Indian consumers but also for an international audience.  

"We have a vision of building this into a top sports and fitness accessories brand on e-commerce, cutting across marketplaces, and launching new products with innovation targeted at the Indian consumer," said Agarwal.  

Interestingly, Evenflow expects Xtrim to be in India's top-selling Indian sportswear brand with a 20x growth over the next 3-4 years. 

Also Read: Amazon partners with US airlines to reduce aircraft emissions

Also Read: Govt issues 202 notices to e-commerce players for violating 'country of origin' norm