Aditya Birla's TMRW invests Rs 125 crore for 16 percent stake in Wrogn

June 22, 2024

Category: General

Country: India

Region: Asia

TMRW, a house of brands from the Aditya Birla Group has invested Rs 125 crore ($15.2 million) for a 16 percent stake in Universal Sportsbiz Pvt Ltd (USPL), the Accel and Virat Kohli-backed parent of clothing brand Wrogn.

By Maverick Martins
20th June, 2024

The minority investment comes with an option for a path to majority stake acquisition later. Founded in 2014 by brother-sister duo Anjana and Vikram Reddy, Wrogn offers a diverse range of casual wear, footwear, and accessories.

Indian cricketer Virat Kohli has been associated with the brand since inception as a investor and brand ambassador.

Commenting on the investment, Prashanth Aluru, CEO co-founder of TMRW in a statement said, “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.”

Anjana Reddy added, “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.”

Wrogn aims to reach over 1,000 points of sale within the next two to three years and eyeing a revenue of Rs 1,500 crore in the next five year. The brand retails online on Myntra, Flipkart, Wrogn website and offline through its retail network.