NEW DELHI: Aditya Birla Group’s fashion venture, TMRW, has invested ₹125 crore for a 16% stake in Universal Sportsbiz Pvt. Ltd (USPL), the company behind the clothing brand Wrogn, which is backed by Accel and Virat Kohli.
Future Acquisition Option
This minority investment includes an option for TMRW to acquire a majority stake in the future, according to an announcement from Aditya Birla Fashion and Retail Ltd on Wednesday.
In the financial year 2022-23, USPL reported a revenue of ₹344 crore. TMRW stated that Wrogn has the potential to become a ₹1,500 crore brand within the next five years.
Growth Strategy
“With TMRW’s partnership, Wrogn is set to grow further through omni-channel strategies. This will not only strengthen its position on fashion platforms like Myntra but also expand its presence in physical stores and boost its direct-to-consumer (D2C) business,” TMRW said.
Virat Kohli, who is both an investor in and the brand ambassador for Wrogn, expressed enthusiasm about the partnership.
“We are excited about this new collaboration that will bring all-around synergies to take Wrogn to the next level,” said Mahendran Balachandran, a partner at Accel.
TMRW’s Ambitious Plans
TMRW aims to become a house-of-brands company, targeting sales of over $1 billion in the next 5–7 years.
Since its start in 2022, TMRW has invested ₹289 crore in acquiring majority stakes in seven other direct-to-consumer (D2C) fashion brands: The Indian Garage Co., Bewakoof, Nauti Nati, Juneberry, Urnabo, Veirdo, and Nobero.
Fashion and lifestyle is India’s second-largest consumer category, valued at $110 billion, with about 10% of this market online, according to a 2023 report by Bain & Co.
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