Aditya Birla’s TMRW Invests Rs 125 Crore for 16 Percent Stake in Wrogn

• ByStartupStory     |    June 20, 2024

TMRW, a house of brands from the Aditya Birla Group, has announced a strategic investment of Rs 125 crore (approximately $15.2 million) for a 16 percent stake in Universal Sportsbiz Pvt Ltd (USPL), the parent company of the popular clothing brand Wrogn. The investment, backed by Accel and Indian cricketer Virat Kohli, includes an option for TMRW to acquire a majority stake in the future.

Founded in 2014 by siblings Anjana and Vikram Reddy, Wrogn has established itself as a leading name in the fashion industry, offering a wide range of casual wear, footwear, and accessories. Virat Kohli has been associated with the brand from its inception, both as an investor and brand ambassador.

Prashanth Aluru, CEO and co-founder of TMRW, expressed enthusiasm about the partnership, stating, “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, co-founder of Wrogn, also shared her excitement about the new partnership. “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,” she said.

Looking ahead, Wrogn aims to significantly expand its presence, targeting over 1,000 points of sale within the next two to three years. The brand is also setting its sights on achieving a revenue of Rs 1,500 crore over the next five years. Currently, Wrogn’s products are available online through platforms like Myntra and Flipkart, as well as through its own website and a robust offline retail network.

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