Thrasio cuts stake, loses control in Indian house of brands in likely market retreat

Founders of Lifelong Online have bought back a majority ownership and control in the Indian house of brands from Thrasio in what appears to be a retreat for the “Amazon aggregator” from the key overseas market.
Existing investors of Lifelong, Tanglin Venture Partners and Hero Enterprise, also increased their ownership in Lifelong Online. Thrasio will continue to be “an active investor and a strategic partner” of Lifelong Online, the Gurgaon-headquartered startup said Thursday.
Lifelong Online served as the vehicle for Thrasio’s India ambitions. The global firm acq

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