For its D2C venture, Aditya Birla Fashion might swoop on Bewakoof

• ByStartupStory     |    November 25, 2022

Aditya Birla Fashion and Retail is close to purchasing a majority controlling stake in Bewakoof, a young adult-focused apparel and accessory business, for up to Rs 100 crore. If the deal is completed, Aditya Birla Fashion will enter the direct-to-consumer (D2C) market.

“Both companies have signed a non-disclosure agreement and have completed due diligence. The team at Bewakoof is also moving to join Aditya Birla’s new firm,” a source mentioned.

Bewakoof, one of the earliest D2C brands in India, was established in 2012 and has an estimated annual turnover of Rs 250 crore. It has succeeded in raising Rs 160 crore from investors like Investcorp, IvyCap Ventures, and Spring Marketing Capital since its establishment.

In June, Aditya Birla Fashion established its direct-to-consumer (D2C) entity, TMRW, with the goal of acquiring and nurturing 30 brands over the following three years. Bewakoof will be acquired by the new company as part of Aditya Birla Fashion’s new plan to build a portfolio of modern digital brands in the fashion, beauty, and lifestyle categories.

“We are surely going to see a lot more such deals happening in the near future. This also helps early-stage investors get exit opportunities at a time when larger funding rounds look a tad challenging amidst a global economic slowdown,” said Dhianu Das, cofounder, Agility Ventures.

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