WROGN Secures ₹125 Crore Investment from Aditya Birla’s TMRW House of Brands

Virat Wrogn
Preeti Bali / 1:19 pm / June 20, 2024

Men’s apparel brand WROGN has received a significant financial boost with a ₹125 crore (approximately $15 million) investment from Aditya Birla Group’s fashion and lifestyle venture, TMRW House of Brands. This strategic partnership adds WROGN to TMRW’s growing portfolio, which now encompasses eight prominent Indian fashion brands.

TMRW Acquires Stake in WROGN, Fueling Growth Ambitions

Through this investment, TMRW acquires a 16% stake in WROGN, valuing the Bangalore-based company at an estimated $105 million. The collaboration aims to propel WROGN’s growth across various facets. This includes strengthening its presence on leading online fashion platforms like Myntra, expanding its brick-and-mortar footprint, and scaling up its direct-to-consumer (D2C) business.

A Renewed Vision for Market Leadership

WROGN, founded in 2014 by siblings Anjana and Vikram Reddy, has carved a niche in the men’s casual wear market. The brand offers a comprehensive range of casual apparel, footwear, and accessories. Leveraging the immense popularity of cricketer Virat Kohli, who is also an investor, WROGN has established a robust network of exclusive brand outlets and strategic partnerships with prominent e-commerce marketplaces.

Building on a Strong Funding History

Since its inception, WROGN has secured approximately $90 million in funding from renowned investors like Accel, Flipkart, Virat Kohli himself, and legendary cricketer Sachin Tendulkar. Notably, Flipkart, which also holds a stake in WROGN’s competitor HRX, led by Hrithik Roshan, participated in WROGN’s Series F funding round in November 2020, for an undisclosed amount.

Addressing Recent Growth Trends

While WROGN witnessed impressive growth in previous years, its fiscal year 2023 performance reflects a slight plateau. Revenue figures indicate a modest 2.3% increase, reaching ₹344 crore compared to ₹336 crore in the previous fiscal year. However, the company’s losses saw a steeper rise, with a 33% spike to ₹44.26 crore from ₹33.63 crore in the same period. WROGN’s annual report for fiscal year 2024 is yet to be filed.

Capitalizing on a Booming Market

A recent report by TMRW in collaboration with Bain & Company highlights the immense potential of the Indian fashion and lifestyle sector. This category is the nation’s second-largest consumer segment, valued at a staggering $110 billion, with an online market share of approximately $11 billion. The online fashion market is projected to experience significant growth, reaching an estimated $35 billion by fiscal year 2028, with a compelling Compound Annual Growth Rate (CAGR) of 25%.

Looking Ahead: A Strategic Alliance

TMRW’s previous investments in brands like The Indian Garage Co., Bewakoof, Nauti Nati, Juneberry, Urnabo, Veirdo, and Nobero demonstrate their commitment to fostering the Indian fashion landscape. This strategic partnership with WROGN positions both companies to capitalize on the burgeoning online fashion market and solidify WROGN’s position as a leading player in the men’s casual and activewear segment.


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