Holy shit
That is huge This must include a large number of startup teams they acquired
Brand acquirers have failed through and through as a model in India
In many of these cases, maybe the brands would’ve continued at their scale and never would have to fire :/
It’s basically VC money making them chase crazy growth, such demand naturally not existing, and people losing jobs as an after effect
Wtf
I never understood the point of Mensa Brands. The rapid unicorn valuation was obviously because of founder network and background.
Weird acquisitions too. How does a digital media co. like MensXP add value to their portfolio? Aren't they more into lifestyle and fashion D2C first brands..
That’s massive, thought DTC brands were doing relatively better than pure play tech
Really, OTOH, I'd think otherwise. In a slowing economy, since most D2C purchases are discretionary, these will be the first to go from a consumer's purchase list.
They copied the Thrasio model and both are in dumps. They copied even the Greek sounding name ffs without shame.
Wannabe Thrasio also joining the party
They lauded a lot of press saying they are profitable company - Mensa is ex Myntra startup .. wonder why fire
15% or close to 200 folks being fired. Reason- revenue per employee to be increased. Revenue not going up so firing employees. Mainly lower level.
Friend works there. He kind of confirmed. Company is still struggling to find profitability. Not much margin in fmcg and food segment, which is their biggest pie of orders.
There was some call around 9 AM today, some folks are laid off. Didn't know the % yet.
Meesho will be firing 251 employees this week. I have many batchmates in this org and have heard nothing but good about this company.
Sad to see this economy claiming another victim in the form of Meesho.
