GlobalBees has announced two more investments as new-age brands, Yellow Chimes, a 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 fashion jewellery market that is estimated to reach US$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 US $7.8 Billion in 2021.
Speaking on the announcement Nitin Agarwal, CEO, GlobalBees, said, “Yellow Chimes and Absorbia are a strong addition to our portfolio, and it is heartening to see our family grow. 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.”
Speaking on joining the GlobalBees team, 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 and are amongst the leaders in this segment. With GlobalBees as our partner, we have the opportunity to disrupt the fashion jewellery market globally.”
Speaking on the partnership with GlobalBees, 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.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.