WROGN has raised Rs 125 crore ($15 million) from  Aditya Birla Group owned TMRW House of Brands. With this investment, TMRW’s portfolio now consists of eight Indian fashion brands. It is a man apparel brand.

TRMW has acquired 16% stake in WROGN, valuing the Bengaluru-based company at around $105 million.

The company said in a press release “Apart from strengthening its position on fashion platforms like Myntra, this partnership will help expand its offline footprint and scaling up the D2C business”. The firm aims to become the leading brand in the men’s casual and activewear category with a path to Rs 1.500 crore revenue in the next 5 years.

Founded by brother-sister duo Anjana and Vikram Reddy in year 2014, WROGN is a notable brand in the casual wear space. It offers a diverse range of casual wear, footwear, and accessories. Leveraging cricketer Virat Kohli’s influence, the brand has rapidly expanded its presence through exclusive brand outlets and strategic partnerships with leading e-commerce marketplaces.

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WROGN has raised around $90 million from the likes of Accel, Flipkart, Kohli, and Sachin Tendulkar since its inception in 2014. In November 2020, Flipkart invested an undisclosed amount in WROGN’s Series F round. The e-commerce major is also an investor in Hrithik Roshan’s HRX which competes with WROGN.

WRONG grew at a rapid pace in the last few fiscal years but its growth remained flat in FY23. Its revenue grew only by 2.3% to Rs 344 crore in FY23 from Rs 336 crore in FY22. Unlike its revenue, the company’s losses spiked 33% to Rs 44.26 crore from Rs 33.63 crore in the same period. The firm is yet to file its annual report for FY24.

As per a recent report by TMRW X Bain & Company, the fashion and lifestyle space is India’s second largest consumer category, valued at $110 billion with approximately 10% online at $11 billion. The online fashion market overall is expected to grow to approximately $35 billion by financial year FY28 at a 25% CAGR.

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