Aditya Birla's TMRW invests Rs 125 crore in Virat Kohli-backed fashion brand WROGN

Kumar Mangalam Birla's Aditya Birla Group-owned TMRW House of Brands has invested Rs 125 crore in Virat Kohli-backed casual wear brand WROGN. 

With this investment, TMRW has acquired a 16% stake in the Bengaluru-based brand, which is now valued at approximately Rs 780 crore.

Founded in 2014 by siblings Anjana and Vikram Reddy, WROGN is known for its diverse range of casual wear, footwear, and accessories targeted at young men aged 18 to 30.

Focused on building a house of brands

With this investment, TMRW has expanded its portfolio to include eight Indian fashion brands, reinforcing its strategy to support new-age digital ventures.

“I am thrilled to welcome WROGN to the TMRW House of Brands. Over the years, WROGN has carved a leadership position for itself with an excellent product-market fit along with disruptive brand building,” said Prashanth Aluru, chief executive officer and co-founder of TMRW.

TMRW, which was launched in 2022, aims to build a house of brands that are primarily digital and exceed the $1 billion benchmark within the next five to seven years.

WROGN’s market presence

WROGN has established itself as a leading brand in the casual wear space with strong product-market fit and disruptive brand building.

The brand has leveraged Virat Kohli's influence to expand through exclusive brand outlets and partnerships with e-commerce platforms like Myntra.

“Success in cricket as well as in a business venture is guaranteed when the entire team plays to win. Joining forces with Anjana and Vikram has been nothing short of successful with the teamwork done to raise the bar in fashion. And now, TMRW’s partnership brings a new chapter for us, as we share a goal to revolutionise the fashion industry. I am thrilled about the journey ahead and confident that we will reach remarkable heights together,” said Virat Kohli.

"Talk about celebrity-led Indian fashion brands and WROGN will easily be the first on your mind. We are confident that we will be able to elevate WROGN to an iconic status. As strategic partners, we are committed to the collaboration with Anjana and Vikram," Aluru said.

Is WROGN profitable?

No, WROGN is yet to become a profitable brand. Despite a slight growth in revenue in FY23, increasing from Rs 336 crore in FY22 to Rs 344 crore in FY23, the brand's losses increased by 33% to Rs 44.26 crore.

The fashion and lifestyle market in India is the second largest consumer category, valued at $110 billion, with approximately 10% online at $11 billion. The online fashion market is expected to grow to about $35 billion by FY28 at a 25% CAGR.

WROGN aims to become the leading brand in the men's casual and activewear category, targeting Rs 1,500 crore in revenue over the next five years.

Strengthening position both online and offline

The partnership with TMRW is set to strengthen WROGN's position both online and offline, expanding its footprint and scaling up its direct-to-consumer business.

“We have always looked beyond the conventional. WROGN is built with a go-getter attitude for delivering high-quality fashion to all. Now, as we partner with TMRW, we are excited to take a significant leap forward in our journey. We are ready to disrupt the fashion industry in a never-seen-before way,” said Anjana and Vikram Reddy, founders of WROGN.