GlobalBees has announced two more investments as new-age brands, Yellow Chimes, a leading fashion jewellery brand and Absorbia, an innovative home care brand, join its portfolio. As a part of this deal, the founders along with a 29 member team of Yellow Chimes and 7 member team of Absorbia, will become a part of the 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 billion in 2021.
"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," Nitin Agarwal, CEO at GlobalBees, said.
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. The company claims to have reached a base with nearly a million customers across India. Its wide range of product categories includes necklaces, bracelets, rings, earrings, nose rings, and pendants, etc.
“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 is amongst the leaders in this segment. With GlobalBees as our partner, we have the opportunity to disrupt the fashion jewellery market globally," Megha Mittal, Co-founder of Yellow Chimes, said.
Kolkata-based Absorbia was the first company in the country to launch a range of moisture absorber products for Indian homes to address issues caused by moisture damage such as mould and fungal growth and musty odors in clothes and living spaces. At present, the homecare brand offers a variety of products that are plant-powered and non-toxic. It is loved and trusted by over 2 million users and sells on Amazon and other marketplaces.
"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," Prabhav Sharda, Founder of Absorbia said.
GlobalBees' current investments include The Better Home, andMe, and Pr.