DBT Bureau
Pune, 22 June 2024
TMRW House of Brands, an Aditya Birla Group Venture, announced the expansion of its portfolio with an Rs 125Cr investment in Accel and Virat Kohli-backed WROGN. Founded in 2014, by the brother-sister duo of Anjana and Vikram Reddy, WROGN has been one of the leading youth brands in India in the casual wear space. With this investment, TMRW added another leading millennial-focused Fashion & Lifestyle brand with a premium and distinctive design positioning, making the overall portfolio of 8 high-value Indian fashion brands.
Since its inception, WROGN has gained popularity in India, particularly among the youth, due to its trendy designs, quality and association with Virat Kohli. The brand has also expanded its presence through online and offline retail channels, having a loyal customer base across the country.
With the partnership with TMRW, WROGN is ready to unlock its next phase of omnichannel growth. Apart from strengthening its leadership position on fashion platforms like Myntra, this partnership will help expand its offline footprint while providing impetus to scaling up the D2C business. With TMRW’s investment and capabilities, WROGN has a path to become the leading brand in the men’s casual & activewear category with a path to 1500 Crs in the next 5 years.
Anjana & Vikram Reddy, Founders of WROGN expressed their enthusiasm for the collaboration, stating, “From the outset, we have always questioned the norms and looked beyond the conventional. WROGN was built with the same go-getter attitude, striving for excellence, and delivering high-quality fashion to all. Now, as we partner with TMRW, we are excited to take the significant leap forward in the journey we have always envisioned. Together, we are ready to disrupt the fashion industry in a never-seen-before way.”
Speaking about the latest addition to the house of brands, Prashanth Aluru, CEO and Co-founder TMRW said, “I am thrilled to welcome WROGN to the TMRW House of Brands. Over the years WROGN has carved a leadership position for itself with excellent product-market fit along with disruptive brand building. Talk about celebrity-led Indian fashion brands and WROGN will easily be the first on your mind. With the deep category & brand building experience as well as the tech-led scaling path that TMRW brings, we are confident that we will be able to elevate WROGN to an iconic status! As strategic partners to their blitz scaling journey ahead, we are deeply committed to the collaboration with Anjana & Vikram who has demonstrated phenomenal capabilities as founder & leader “
Virat Kohli’s association with WROGN reflects his interest in fashion and his desire to engage with his fan base beyond cricket. He has become synonymous with WROGN, resonating with customers through his distinct style and personality.
Speaking of the partnership, Indian Cricketer, Virat Kohli, said, “Success in a game of 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 amazing teamwork done to raise the bar in fashion. And now, TMRW’s partnership brings an exhilarating new chapter for us, as we share a goal to revolutionize the fashion industry. I am thrilled about the incredible journey ahead and confident that we will reach remarkable heights together.”
Mahendran Balachandran, Partner at Accel said, “WROGN has created a highly differentiated brand in the competitive world of retail fashion. Anjana and Vikram are visionary founders who have been able to identify the right partnerships to create disruptive outcomes. We are excited about this new collaboration that will bring all-round synergies to take WROGN to the next level.”
As per a recent report by TMRW X Bain & Company valued at $110 billion with approximately 10% online at $11 billion. The online fashion market overall is expected to grow to approximately $35 billion by the financial year 2028 (FY28) at a 25% CAGR. E-commerce has democratized access to fashion, including fashion brands. The category has seen around 30% historical growth, compounded annually, since 2019. TMRW House of Brands with its existing expertise and strong legacy is primed to make the most of this opportunity & foster growth for its brands across fashion and lifestyle categories.
Source: TMRW media release
