Acquisition · Commerce & Consumer Brands
The Souled Store buys rival brand Redwolf
By Startup Enthusiast ·
- Date
- Company
- The Souled Store
- What it does
- Pop-culture apparel brand
- Kind
- Acquisition
- Based in
- Mumbai
What they do
The Souled Store is a Mumbai clothing brand built around fandoms, selling merchandise tied to films, shows and sport
What happened
It acquired Redwolf, a smaller pop-culture apparel rival, whose founders Ameya Thakur, Rahul Jaisheel and Vivek Malhotra joined the company
Why it matters
Redwolf's revenue had slipped from ₹11.6 crore in FY23 to ₹8.4 crore in FY24; the buyer then planned a ₹150–200 crore raise
The details
- The Souled Store bought Redwolf, another pop-culture apparel brand.
- Redwolf's three founders joined The Souled Store.
- After the deal it planned to raise ₹150–200 crore by mid-2025.
- The money was meant for bigger stores, new categories and a Gulf launch.
The bigger picture
- Buying a rival added fan-merchandise know-how and talent.
- Co-founder Vedang Patel said a listing was about two years away.
About the business
- The Souled Store sells licensed pop-culture clothing online and in stores.
- It planned to grow store space from 60,000 to 180,000 sq ft.
What happens next
- Raise ₹150–200 crore and hire bankers for an IPO.
Founders
- Vedang Patel, Co-founder
Other articles talking about it
More on The Souled Store
- The Souled Store eyes deal at triple valuation29 September 2026 · Stake sale · ₹400–500 Cr
- The Souled Store turns profitable, eyes expansion18 April 2026 · Milestone
- Actor Sara Ali Khan invests in The Souled Store3 April 2026 · Funding
- The Souled Store nears ₹500 crore in revenue29 December 2025 · Results
- The Souled Store plans up to Rs 2,000 crore IPO24 February 2025 · IPO · up to Rs 2,000 crore
- The Souled Store turns profitable as FY24 revenue jumps 55%20 February 2025 · Results · Rs 360 crore revenue
- The Souled Store plans Middle East entry in 202513 January 2025 · Launch
- Hardik Pandya invests in The Souled Store26 October 2024 · Funding