Aditya Birla Fashion Retail is planning to invest in eight brands
- ByStartupStory | November 29, 2022
TMRW, an Aditya Birla Group venture and a wholly-owned subsidiary of Aditya Birla Fashion Retail Ltd (ABRFL), announced investments in eight digital-first lifestyle brands foraying into the casual wear, kid’s wear, and western wear markets on Monday.
Berrylush, Bewakoof, Natilene, Juneberry, Nauti Nati, Nobero, Urbano, and Veirdo are among the D2C brands. ABFRL was in talks to acquire controlling holdings in Hyderabad-based Urbano Fashion and Pratyaya E-Commerce Pvt. Ltd. and Ahmedabad-based Awesomefab Shopping Pvt. Ltd. TMRW was formed earlier this year as part of the group’s aim to launch and support cutting-edge digital initiatives. The endeavor is ABFRL’s attempt to establish a ‘House of Companies’ organization that actively invests in brands that are born online and generate a major portion of their sales online.
“ABFRL has a distinctive heritage of building marquee fashion and lifestyle brands. By tapping into ABFRL’s fashion capabilities and category expertise, TMRW is on the path to replicate the success in the digital-first space by building the next generation of memorable brands that will drive India’s E-commerce growth,” said Ashish Dikshit, Managing Director, Aditya Birla Fashion and Retail Ltd.
In response to its affiliations with the eight new companies, the corporation stated that relationships with the new-age founders were formed within a few months of the venture’s launch. “With these eight brands on board, TMRW has achieved a revenue run rate of over 700 crore and is on track to cross a revenue run rate of 1,500 crore in the next 12 months,” the firm said in a statement announcing the investments. TMRW has created a presence in garment areas ranging from casual wear to children’s wear to western wear with this portfolio.
According to the company, the objective is to expand into complementary lifestyle areas such as beauty and personal care. Women’s western wear label Berrylush, as well as casual wear brand Bewakoof and women’s casual and western wear brand Juneberry, are among the D2C brands. In addition to casual and denim wear brand Urbano and casual wear and fast fashion label Veirdo, the business has invested in teen occasion wear brand Natilene, kids’ clothing label Nauti Nati, and athleisure and active wear label Nobero.
“TMRW’s vision is to partner with new-age founders by bringing in strategic, operational, and technological capabilities in addition to growth capital. With synergistic investments that will power multiple brands, TMRW will enable blitz scaling and brand building,” the company said.
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