Chumbak is a Bengaluru design brand founded in 2010, known for bright, pattern-heavy homeware, bags and watches. It sells on its own shop, Myntra, Amazon India and Nykaa Fashion, at a median price a little over ₹1,100. It is filed on fashion shelves as a clothing name.
Its own catalogue is mostly homeware. Read on 11 September 2026, the 1,500 products on chumbak.com were bags (283), drinkware (182), dinnerware (101), cushions (92) and furniture (91). No apparel type appears in the top six, and the top navigation — Home & Decor, Bags & Travel, Gift Store, Watches — carries no clothing category.
The other thing that has changed is who holds it. GOAT Brand Labs, a venture-funded brand aggregator, took what the trade press reports as 80% in January 2023. Both founders have since ceased as directors, and every sitting director on the register is a nominee.
Chumbak is a Bengaluru homeware and accessories brand. It launched a fashion apparel line in October 2015; on 11 September 2026 its own shop listed bags, drinkware, dinnerware and cushions, and its navigation carried no apparel category. Most listings read declare India as the country of origin, at a median price of about ₹1,100.
GOAT Brand Labs, a venture-funded brand aggregator, holds a reported 80% from January 2023; that percentage is trade press, not a filing. The register shows every sitting director as a nominee, with both founders having ceased as directors in 2023 and 2024.
Who owns Chumbak now
- Founded
- 2010 as a brand, by Vivek Prabhakar and Shubhra Chadda. The company, Chumbak Design Private Limited, was incorporated on 28 April 2011
- Company
- Chumbak Design Private Limited, CIN U74999KA2011PTC058374, ROC Bangalore
- Registered office
- 520, CMH Road, Indiranagar 1st Stage, Bengaluru 560038
- Current owner
- GOAT Brand Labs, at a reported 80% since January 2023. The percentage is trade press; no shareholding filing carrying it has been published
- Board
- Nominee directors only. Both founders have ceased — 13 January 2023 and 25 January 2024
- Category
- Homeware, bags, drinkware, dinnerware, cushions, furniture and watches. No apparel category on its own site
- Price band in India
- Mid-range. Median price charged ₹1,116.50 across 1,500 own-store listings, and ₹1,297 across a 200-listing sounding on Myntra, both 11 September 2026
- Catalogue size
- 1,500 products read on its own site; 1,489 listings on Myntra under the Chumbak name, plus 246 under Teal by Chumbak
- Shops
- 32 entries on its own store locator across about 17 cities, 11 September 2026
- Available in India
- Official — own site, Myntra, Amazon India, Nykaa Fashion and its own shops
Which half of this is filed and which half is reported matters. The register carries the board: mirrors of the Ministry of Corporate Affairs record, read on 11 September 2026, show Vivek Prabhakar ceasing as a director on 13 January 2023 and Shubhra Chadda on 25 January 2024, and show every sitting director designated a nominee. One of them is Rishi Vasudev, GOAT Brand Labs’ co-founder and chief executive. The company’s registered contact email runs to goatbrandlabs.com.
The 80% figure comes from trade press — a May 2023 report that GOAT “now owns 80% of the lifestyle brand”, a January 2023 report giving the same 80% with 13% retained by the founders, and a third reproducing a Financial Express interview putting the price at roughly ₹100 crore to ₹120 crore. No shareholding pattern or annual return carrying a percentage has been published. The sources also disagree on the transaction: two describe an 80% stake purchase, one a slump sale. A business sold is not the same as shares sold, and this page does not pick between them.
- Chumbak Design Private LimitedIncorporated 28 April 2011, Bengaluru
- Gaja Capital, Z47 and Seedfund₹85 crore venture round, November 2017
- GOAT Brand LabsAcquisition announced 12 January 2023; a reported 80%
- A board of nominees, no foundersCessations 13 January 2023 and 25 January 2024
The board changes in the last box are the part recorded on the register.
A brand aggregator is not a private equity fund
Chumbak is often described as having been bought by private equity. That gets the owner wrong. GOAT Brand Labs is a brand aggregator — it buys majority stakes in small consumer brands and then runs them itself, rather than holding investments for a fund’s set life and selling them on. It operates about twenty brands and is financed by venture capital: $109 million across eight rounds since May 2021, with Tiger Global and Flipkart Ventures in its $36 million Series A, and BlackRock, Mayfield and NB Ventures in a round on 8 July 2024.
What Chumbak actually sells
Chumbak did enter apparel. On 16 October 2015 it announced “Collection One”, an autumn-winter fashion apparel and accessories range, with both founders quoted by name. Vivek Prabhakar called it “a Fashion collection that truly defines the times”. Shubhra Chadda said the silhouettes, patterns and cuts reflected international design standards.
By April 2017 the founder was describing accessories, not clothing, as the largest category, across a range running from ₹125 notebooks to a ₹40,000 double-seater sofa. In June 2021 the company described home décor as its strongest category through the pandemic, alongside protective masks.
Today its own shop lists no clothing. The Our Story page describes an Indian design studio making homeware and accessories, and names dining, décor, furniture, bags and watches — not apparel. Teal by Chumbak, the sub-brand carrying 246 Myntra listings, has 197 products on its collection page: 74 analogue watches, then bags, wallets, cushion covers, bedsheets and wall clocks.
A named apparel collection in 2015; bags, drinkware, dinnerware, cushions and furniture in the 2026 shop.
- 2010Founded selling souvenirs and collectables
- 2015“Collection One” fashion apparel launched, 16 October
- 2017“Accessories is the largest category right now” — the founder, April
- 2021Home décor named its strongest pandemic category, June
- 2026No apparel category in its own navigation, 11 September
The 2015 collection has no counterpart in the 2026 shop.
One caution: the Chumbak name carries 1,489 Myntra listings, which are not broken down by category here. The composition above is the brand’s own shop, counted product by product.
What Chumbak costs in India
Chumbak declares India as the origin on most of what it sells, so customs duty — the usual explanation for a high Indian price — does not apply to the bulk of the catalogue. What is left is a pricing decision, and it is an unusual one: the brand’s own shop is the cheaper place to buy.
- Share of MRP charged on Myntra
- 79.3%
- Share of its own comparison price charged on chumbak.com
- 67.6%
- Gap
- About 12 points cheaper on its own site
- Checked on
- 11 September 2026
Those two percentages are not the same measure. The Myntra figure is a share of the declared maximum retail price, a statutory number printed on the goods. The chumbak.com figure is a share of the shop’s own comparison price — a figure the shop sets for itself. What survives that caveat is the direction: on the same day, the brand’s own shop asked less.
| Read on 11 September 2026 | Myntra | chumbak.com |
|---|---|---|
| Listings read | 200 | 1,500 |
| Carrying a reduction | 156 | 1,116 |
| Share of the stated figure charged | 79.3% of MRP | 67.6% of its own comparison price |
| Median price charged | ₹1,297 | ₹1,116.50 |
Of the brands read on 11 September 2026, Chumbak is the second whose own shop undercuts its marketplace listing — Jockey is the other, by a narrower margin. On Indian direct-to-consumer shelves a brand’s own site usually asks more, not less.
Against its neighbours, 79.3% of MRP is a light discount. Read the same way on the same day, Anouk charged 27.8% of MRP and Killer 30.3%, while Jockey and Manyavar charged the whole printed figure on all 200 listings each. Westside, read on 6 September 2026, charged the printed MRP on all 267 of its catalogue records. Chumbak sits high in that range, closer to a brand that means its price than one that prices to be reduced.
Its Teal collection page showed reductions clustered at 45% to 55% — at least a published number, which is more than parts of this market offer. Zudio‘s own site carries a full catalogue with no price on a single listing.
The handcrafted-in-India claim
Chumbak’s Our Story page makes a specific, checkable claim: “More than 90% of our products are designed and handcrafted in India, with love and expert craftsmanship by local Indian artisans.”
The site publishes no supporting document for it. chumbak.com names no certificate, audit, artisan cluster, mill or workshop, and no Craftmark or Handloom Mark registration, beside either the “more than 90%” figure or the artisan claim.
Three published things sit beside it. The first is the statutory declaration the company files on each listing.
| 40 Chumbak listings read in full, 11 September 2026 | What the declarations say |
|---|---|
| Country of origin | India 33, China 3, China and India 3, Chile 1 |
| Declared manufacturers | 13 different companies; Chumbak Design Pvt Ltd on 27 of 40 |
| Sellers of record | 2; Chumbak Design Pvt Ltd on 37 of 40 |
| Net quantity declared | 14 of 40 |
A Legal Metrology declaration names who is legally answerable for the goods, not who made them by hand, and the rules allow a set of entities to be named rather than one — so thirteen names across forty records is ordinary. On origin, 33 of the forty declare India alone.
The second is the company’s own account of how it works. In April 2017 Vivek Prabhakar said the designs are created in-house and that the company has no manufacturing facility, with a sourcing team managing production through in-house and external vendors. That is a common model for design-led brands.
The third is what a product page says. The Teal by Chumbak “Sunshine State” hand bag, read on 11 September 2026, declares canvas PU outer and polyester inner, origin India, MRP ₹3,295 against ₹1,648. The page itself carries no handcrafting or artisan claim. Only 2 of the 1,500 own-store descriptions read that day carry a GSM figure — the fabric weight measure that tells you how substantial a textile is.
Four loss years
| Financial year | Operating revenue | Profit / (loss) |
|---|---|---|
| FY22 | ₹66 crore | (₹34.8 crore) |
| FY23 | ₹71.13 crore | (₹6.5 crore) |
| FY24 | ₹63.6 crore | (₹20.3 crore) |
| FY25 | ₹61.7 crore | (₹10.2 crore) |
Register filings as reproduced by TheKredible (FY22, FY23) and Inc42 Datalabs (FY24, FY25); the FY25 revenue and its 3% fall are corroborated by a second register mirror.
Each of the four years with a published figure shows a loss. Revenue peaked at ₹71.13 crore in FY23 and has fallen in each of the two years since. FY23’s costs were materials over ₹20 crore, employee benefits ₹12 crore and advertising over ₹5 crore. FY20 and FY21 are missing from the public series and are not interpolated here.
Chumbak is unlisted and publishes no annual report, so every figure above comes from data services reproducing its register filings. Two of them agree on the FY25 fall of 3%. Read the direction as solid and the decimals as approximate.
How many Chumbak shops there are
The first flagship opened in 2014. By November 2017 there were 17 stores, from Delhi and Mumbai to Chandigarh, Kochi and Jaipur. In 2020 the company shut stores, warehouses and offices across 18 Indian cities during the pandemic.
Two published counts from mid-2021 differ. On 10 June 2021 a trade report described “around 45 Chumbak stores across India”. On 23 July 2021 another described “70+ exclusive brand stores” integrated onto an omnichannel platform. The two may count different things, and this page prints both.
The current figure is the one you can check yourself: Chumbak’s own store locator listed 32 entries on 11 September 2026, across roughly 17 cities from Bengaluru and Delhi to Guwahati, Dehradun and Vishakhapatnam, one of them a kiosk in Mohali.
Reputation
The public record on Chumbak read for this audit is filings rather than findings: register entries, funding announcements and the company’s own pages.
Who Chumbak is actually for
It is for someone buying a gift, a mug, cushion covers or a printed canvas bag at around ₹1,100, who wants a design with personality and is buying on the look. On that brief it does the job, the aesthetic is its own, and the brand’s own shop asking less than the marketplace is rare here.
It is not for a buyer who wants clothing: the brand’s own site carried no apparel category on 11 September 2026. A buyer who wants documented craft provenance will find no certificate or artisan list published.
Buying Chumbak in India
Compare its own site before you buy on a marketplace
Open the same item on chumbak.com and on the marketplace before paying. The own shop asked less across the listings read on 11 September 2026, but the gap is not uniform item by item.
Read the origin line, not the About page
Thirty-three of forty declarations read that day gave India alone as the origin. The line is printed on the listing and on the box.
Treat a struck-through price on the brand’s own shop as the shop’s own number
A comparison price on a brand’s own shop is set by the seller, not declared under the Legal Metrology rules. Judge the rupee figure against a comparable product elsewhere, not the percentage off.
Check the material line on the product page
The bag examined here declares canvas PU outer and polyester inner. PU is polyurethane, a coated synthetic, not leather. Fabric weight is almost never given: 2 of 1,500 descriptions carried a GSM figure.
Common questions
Who owns Chumbak?
GOAT Brand Labs, a Bengaluru brand aggregator, at a reported 80% since January 2023. That percentage comes from trade press; no shareholding filing carrying it has been published. What the register does show is that every sitting director is a nominee director and that both founders have ceased.
Was Chumbak bought by private equity?
No. GOAT Brand Labs is a brand aggregator — it buys majority stakes in consumer brands and operates them — and it is financed by venture capital, including Tiger Global, Flipkart Ventures, BlackRock, Mayfield and NB Ventures, with $109 million raised across eight rounds since May 2021.
Does Chumbak still sell clothes?
Its own site does not list an apparel category. Read on 11 September 2026, the top navigation ran Home & Decor, Bags & Travel, Gift Store and Watches, and the catalogue was bags, drinkware, dinnerware, cushions and furniture. Chumbak launched apparel in October 2015.
Is Chumbak cheaper on its own website or on Myntra?
On its own website, on the day read. On 11 September 2026 chumbak.com charged 67.6% of its own comparison price, median ₹1,116.50, while a 200-listing sounding on Myntra charged 79.3% of MRP, median ₹1,297. The two are different measures, so compare the rupee price of the same item.
Is Chumbak made in India?
Mostly. Of 40 listings read in full on 11 September 2026, the declared country of origin was India on 33, China on three, China and India on three, and Chile on one. The brand’s own page says more than 90% of products are designed and handcrafted in India; the site publishes no certificate or artisan list for that figure.
How many Chumbak stores are there?
Its own store locator listed 32 entries across about 17 cities on 11 September 2026, one of them a kiosk. Two published counts from 2021 differ — around 45 in June and 70-plus in July.
How we research and verify brand audits: our methodology.
References
- Chumbak, own site, read 11 September 2026 — the top navigation and the absence of any apparel category
- Chumbak, Our Story, read 11 September 2026 — the 2010 founding, the founders’ names, the homeware and accessories self-description, and the “more than 90% … handcrafted in India” claim quoted in full
- ZaubaCorp, a mirror of the MCA register, read 11 September 2026 — CIN, incorporation on 28 April 2011, registered office, sitting nominee directors and both founders’ cessation dates
- The Company Check, a mirror of the MCA register, read 11 September 2026 — an alternative sitting-director list, and FY25 revenue of ₹61.7 crore down 3%
- InstaFinancials, a mirror of the MCA register, read 11 September 2026 — latest balance sheet filed to 31 March 2025, and the registered contact email at goatbrandlabs.com
- YourStory, May 2023 — “now owns 80% of the lifestyle brand”
- OfficeChai, 12 January 2023 — 80% to GOAT with 13% retained by the founders, and the slump-sale characterisation this page reports as a disagreement
- EquityPandit, 13 January 2023 — the roughly ₹100 crore to ₹120 crore price, reproducing a Financial Express interview with GOAT’s chief executive
- Entrackr, 12 January 2023 — the acquisition announcement and the undisclosed sum
- Tracxn, GOAT Brand Labs profile, read 11 September 2026 — co-founders, the Singapore entity, and $109 million across eight rounds from May 2021
- Free Press Journal — the $36 million Series A from Tiger Global and Flipkart Ventures
- YourStory, 8 July 2024 — the $21 million round and the BlackRock, Mayfield and NB Ventures participation
- Adgully, 16 October 2015 — the “Collection One” apparel launch and both founder quotes
- Indian Retailer, 11 April 2017 — accessories as the largest category, the ₹125 to ₹40,000 range, the 2014 flagship, and the statement that the company has no manufacturing facility
- YourStory, 10 June 2021 — home décor as the strongest pandemic category, and the “around 45 Chumbak stores” count
- Indian Retailer, 23 July 2021 — the “70+ exclusive brand stores” count
- Microsoft India, 11 November 2021 — the 2020 shutdown of stores, warehouses and offices across 18 Indian cities
- Chumbak store locator, read 11 September 2026 — 32 entries across about 17 cities, including the Mohali kiosk
- Teal by Chumbak collection page, read 11 September 2026 — 197 products, 74 of them analogue watches, and the 45% to 55% reductions
- Teal by Chumbak “Sunshine State” hand bag, read 11 September 2026 — canvas PU and polyester composition, India origin, manufacturer and the ₹3,295 MRP against ₹1,648
- TheKredible — FY22 and FY23 revenue, expenses and losses, and the FY23 cost breakdown
- Inc42 Datalabs, read 11 September 2026 — FY24 and FY25 revenue and losses
- Inc42, 28 November 2017 — the ₹85 crore round led by Gaja Capital with Matrix Partners India and Seedfund, and the 17-store count
- S.S. Rana & Co., 16 September 2024 — what the Legal Metrology (Packaged Commodities) Rules, 2011 require an online listing to declare, and the permission to name a set of entities
Buy the mug, the cushion cover or the printed canvas bag. At a median of ₹1,116.50 on its own shop the design is distinctive, the pricing is straight, and the own site asking 12 points less than the marketplace is the opposite of what most of this shelf does.
Do not buy it as a clothing brand: it launched apparel in October 2015, and its own navigation on 11 September 2026 carried no apparel category. The “more than 90% … handcrafted in India” line is the brand’s own, and the site publishes no certificate or artisan list for it, so judge each piece on its material line — the bag examined here declares canvas PU and polyester. Behind it sits a reported 80% holder that is a venture-funded aggregator rather than a private equity fund.
A fairly priced homeware and gifting brand, best bought on its own site — choose it for the design, not as a fashion label.
