TMRW invests Rs 125 Cr in fashion brand WROGN backed by Virat Kohli, Accel
Backed by Virat Kohli and Accel, WROGN offers a diverse range of casual wear, footwear, and accessories focused on men's casual and active wear.
House of Brands, an Aditya Birla Group Venture, has made an investment of Rs 125 crore in —a fashion brand backed by Accel and Virat Kohli.
The investment adds to TMRW's portfolio of eight millennial-focused fashion and lifestyle brands.
JM Financial Limited acted as the exclusive financial advisor to USPL and selling shareholders on this transaction.
Founded in 2014 by the brother-sister duo of Anjana and Vikram Reddy, WROGN offers a diverse range of casual wear, footwear, and accessories characterised by bold prints, vibrant colours, and streetwear influences. The brand focuses on men's casual and active wear categories, and aims for a turnover of Rs 1,500 crore in the next five years.
“As we partner with TMRW, we are excited to take the significant leap forward in the journey we've always envisioned. Together, we are ready to disrupt the fashion industry in a never-seen-before way,” said Anjana and Vikram Reddy, Founders of WROGN.
“Over the years, WROGN has carved a leadership position for itself with excellent product-market fit along with disruptive brand building...As strategic partners to their blitz scaling journey ahead, we are deeply committed to the collaboration with Anjana and Vikram, who have demonstrated phenomenal capabilities as founders and leaders," added Prashanth Aluru, CEO and Co-founder, TMRW.
Earlier in an interaction with YourStory, Aluru said the company will close FY24 with an annual revenue run rate of $150 million across its portfolio of fashion and apparel brands
TMRW is focused on building large, enduring brands and deploying a balanced growth path with strong fundamentals and unit-economics. Currently, the TMRW portfolio consists of casual wear, Athleisure & Fashleisure along with expression wear and kids wear categories.
Edited by Kanishk Singh