Aditya Birla Group-owned TMRW House of Brands has invested $15 million (approximately Rs 125 crore) in WROGN, a leading men’s apparel brand backed by cricketer Virat Kohli. This investment marks TMRW’s acquisition of a 16% stake in WROGN, valuing the Bengaluru-based company at around $105 million.
Founded in 2014 by siblings Anjana and Vikram Reddy, WROGN has carved a niche in the casual wear segment, offering a wide array of casual wear, footwear, and accessories. Leveraging Virat Kohli’s stature, the brand has expanded rapidly through exclusive brand outlets and strategic partnerships with major e-commerce platforms.
According to WROGN’s press release, the partnership with TMRW will not only enhance its presence on fashion platforms like Myntra but also facilitate the expansion of its offline footprint and scaling up of its direct-to-consumer (D2C) business model.
The company aims to assert its leadership in the men’s casual and activewear categories, targeting a revenue trajectory of Rs 1,500 crore over the next five years. WROGN has previously secured approximately $90 million in funding from investors such as Accel, Flipkart, Virat Kohli, and Sachin Tendulkar.
Despite experiencing a flat growth phase in FY23, where revenue increased marginally by 2.3% to Rs 344 crore from Rs 336 crore in FY22, WROGN remains optimistic about its future prospects.
The fashion and lifestyle sector in India, according to a recent TMRW X Bain & Company report, represents the country’s second-largest consumer category, valued at $110 billion. With approximately 10% of this market online, equivalent to $11 billion, the online fashion segment is poised for significant growth, projected to reach approximately $35 billion by FY28 at a compound annual growth rate (CAGR) of 25%.
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