Arvind, textile to retail conglomerate that is currently carrying out due diligence of the online fashion and lifestyle brand is in talks with Sequoia Capital-funded ecommerce company to acquire Freecultr, to become the latest brickand-mortar store operator to snap up troubled online ventures.
Freecultr will be acquired by Arvind Internet, the conglomerate’s online arm that is spearheaded by Kulin Lalbhai, son of chairman Sanjay Lalbhai.
Freecultr started as an online fashion brand in 2011, recently launched a new digital crowd sourcing platform, Freecultr Express, which allows anyone to create and sell T-shirts through their tee-stores on the company’s sites without any need to make investments in inventory, operations or logistics.
Under this format, Freecultr will produce T-shirts of the selected designs and the creator gets commission on sales. More than 5,500 individuals have used the platform to create more than 24,000 designs.
The company also operates nine Freecultr-branded brick-and-mortar stores, including in the National Capital Region, Mumbai, Dehradun, Lucknow and Bengaluru, according to its website.
