Aditya Birla Group’s TMRW has acquired a 16 percent stake in WROGN, a fashion brand backed by Virat Kohli, for INR 125 crore, approximately $ 15 million, aiming to boost its e-commerce presence and increase revenue and an option for a majority stake in the future. This investment expands TMRW’s portfolio to eight Indian fashion brands.
Founded in 2014 by siblings Anjana and Vikram Reddy, WROGN has become popular among youth due to its trendy designs and association with Kohli, a prominent Indian cricketer. With this acquisition, TMRW aims to leverage its expertise to foster growth across fashion and lifestyle categories.
WROGN’s parent company reported revenues of INR 344 crore in FY23, INR 336 crore in FY22, and INR 232 crore in FY21. Despite a slight revenue growth, the company’s losses increased by 33 percent to INR 44.26 crore in FY23.
According to a TMRW and Bain & Company report, India’s fashion and lifestyle sector is valued at $110 billion, with the online segment expected to grow to $35 billion by FY28 at a 25 percent CAGR. E-commerce has democratized access to fashion, allowing brands like WROGN to expand their market reach.
Strategic Growth and Future Plans
TMRW’s investment will strengthen Virat Kohli backed fashion brand presence on platforms like Myntra and expand its offline footprint. WROGN aims to become a leading brand in the men’s casual and activewear category, targeting Rs 1,500 crore in revenue over the next five years.
Since its inception, WROGN has raised approximately $90 million from investors, including Accel, Flipkart, Kohli, and Sachin Tendulkar. Flipkart, which also invested in Hrithik Roshan’s HRX, participated in WROGN’s Series F round in November 2020.
TMRW’s previous investments include brands like The Indian Garage Co., Bewakoof, Nauti Nati, Juneberry, Urnabo, Veirdo, and Nobero. With its strong legacy, TMRW is well-positioned to capitalize on growth opportunities in fashion and lifestyle.
TMRW’s strategic investment in WROGN marks a significant step in expanding its portfolio and strengthening its position in the Indian fashion market. By leveraging Kohli’s influence and TMRW’s expertise, WROGN is poised for substantial growth in the coming years.
Mahendran Balachandran, Partner at Accel, said, “WROGN has created a highly differentiated brand in the competitive retail fashion world. Anjana and Vikram are visionary founders who have identified the right partnerships to create disruptive outcomes. We are excited about this new collaboration to bring all-round synergies to take WROGN to the next level.”
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