Indian Sneaker Brand Flatheads Gets Acquired by Fashion Label Styched
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Startup sneaker brand Flatheads has officially been acquired by Styched, an online fashion site.
According to Entrepreneur India, the acquisition of Flatheads — the online sneaker label that rose to fame after its co-founder, Ganesh Balakrishnan, appeared on “Shark Tank India” season two — marks Styched’s first entry into the footwear field.
“The Flatheads-Styched deal gives new wings to our idea of creating unique footwear for the young Indian,” Balakrishnan told the website. “Styched has changed the operating model of creating and delivering fashion, and I’m very excited to see Flatheads taking the next leap together. Young Indians are just starting to flaunt their sneakers as a new fashion and lifestyle statement. The market is evolving, and it will be a unique journey for the category, different from other parts of the world. It will be fulfilling to see Flatheads being an integral part of the market creation and growth.”
Flatheads specializes in comfort-based sneakers, featuring plush foam soles with lightweight uppers in materials like canvas and knit polyester fabric. Currently, the brand’s SoftKnit, KoolTex, Banana and Linen sneakers are all sold out. However, the label’s new knit Ellipsis sneaker is available in three colorways on its own website, and five colorways of its knit $70 Luft sneakers are available on Zappos.
As mentioned in Entrepreneur India, the label’s partnership with Styched will allow the retailer to use its demand-based production to Flatheads in the future. Additionally, Styched will aid Flatheads in expanding its product range, as well as managing the brand’s various departments.