In a significant strategic retreat, BRND.ME (formerly Mensa Brands) has sold its content subsidiary India Lifestyle Network (ILN)—which owns MensXP, iDiva, and creator platform HYPP—to the RPSG Group for approximately $9 million in an all-cash deal. The sale, finalized in May 2025, reflects an 85% valuation drop from the estimated $60 million Mensa paid to acquire ILN in December 2022.
📉 Why BRND.ME Sells MensXP at a Massive Discount
This dramatic markdown signals a broader strategic realignment and liquidity push by BRND.ME as it faces capital pressures.
- Original Acquisition (2022): ~$60 million
- Sale Value (2025): ~$9 million
- Discount: ~85%
BRND.ME is reportedly exploring divestment of other assets, including stakes in Renee Cosmetics and Pebble, as part of a larger portfolio clean-up to raise fresh capital.
🏢 What’s Included in the Deal?
- MensXP: A men’s lifestyle platform known for pop culture, relationships, fashion, and grooming content
- iDiva: Women-focused platform covering beauty, fashion, and wellness
- HYPP: Influencer and creator management platform
All assets have been integrated into RPSG’s digital media arm, Hook, strengthening its youth-focused content offerings.
👤 Leadership Shake-Up: Angad Bhatia Exits Before Sale
ILN’s founder Angad Bhatia, who launched the group in 2017, exited prior to the deal. He has since taken over as CEO of Network18’s Firstpost and Creator18, marking a notable shift in leadership just before the divestment.
💰 BRND.ME’s Financial Snapshot
Despite the steep ILN markdown, BRND.ME reported improving financials in FY24:
- FY24 Net Loss (India): ₹155.85 crore (↓ 31% YoY)
- FY23 Net Loss: ₹227.03 crore
- FY24 Operating Revenue: ₹557.66 crore (↑ 11.6% YoY)
- FY23 Revenue: ₹499.63 crore
🧠 Background on BRND.ME
Founded in 2021 by former Myntra CEO Ananth Narayanan, BRND.ME was designed to acquire and scale digital-first D2C brands. It raised over $300 million from top investors like Accel, Prosus, and Tiger Global. However, like other roll-up startups, BRND.ME is now under pressure to streamline operations amid a more challenging funding environment in 2025.
