Aditya Birla group launches house of brands venture Tmrw; Prashanth Aluru named CEO
- ByStartupStory | June 1, 2022
‘House of brands’- Tmrw is the new initiative of The Aditya Birla Group. It will acquire and incubate more than 30 brands in the fashion and lifestyle segment. It would also take assistance from Aditya Birla Fashion and Retail Ltd(ABFRL) for developing the venture.
The former executive of Facebook, Kalaari Capital and Bain Prashanth Aluru has been appointed the CEO of this new venture. He is set to encourage the growth of the company.
This type of model -collection of brands is pioneered from Thrasio, it is an US based platform wherein sellers on Amazon and turbochargers are bought and their growth is enabled with the help of technology, product growth chops and marketing.
Upscalio, GOAT, Mensa Brands GlobalBees,Brand Labs are at the forefront of this industrial space and have also strengthened as well as given momentum to this space. It will take the D2C(Direct to consumer) growth to $100 Billion by 2025.
The fundraisers are slowing down, investors are becoming more cautious,cost cutting is prevalent. It is expected that this would be the right time for roll-up e-commerce firms to establish themselves due to the less expensive acquisitions compared to the last two years. This has resulted in flattening growth of the D2CÂ consumer brands.
CEO and co-founder of Aluru said that “With the backing of the Aditya Birla Group and the right profile of long-term investors we will bring in, we are confident of powering the growth of several brands that shape the next phase of digital commerce growth till 2030 and beyond. With a new-age digital-first DNA, at TMRW, we will jointly create an ecosystem of the most-loved disruptor brands partnering closely with highly competent founders.”
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