Men’s apparel brand WROGN has raised approximately Rs 75 crore ($9 million) from Aditya Birla Digital Fashion Ventures Ltd (ABDFVL), boosting ABDFVL’s stake in the D2C brand from 17.10% to 32.84% on a fully diluted basis, according to a stock exchange filing.
This fresh infusion of capital follows a previous investment in June 2024, when WROGN secured Rs 125 crore ($15 million) from TMRW House of Brands, an arm of the Aditya Birla Group. TMRW’s investment increased its stake in the Bengaluru-based fashion brand to 16%, valuing the company at around $105 million.
The Aditya Birla Group, through its TMRW initiative, is actively backing a portfolio of eight Indian fashion brands, including The Indian Garage Co, Bewakoof, Nobero, Nauti Nati, Urbano, JuneBerry, and Veirdo, with a strong focus on expanding its presence in India’s booming fashion and lifestyle market.
Founded in 2014 by Anjana and Vikram Reddy, WROGN has established itself as a leading player in men’s casual wear, offering an extensive range of apparel, footwear, and accessories. The brand has successfully leveraged cricketer Virat Kohli’s influence to extend its market reach through exclusive outlets and partnerships with leading e-commerce platforms.
WROGN has now raised approximately $90 million from prominent investors, including Accel, Flipkart, Virat Kohli, and Sachin Tendulkar. In November 2020, Flipkart further solidified its investment by participating in the brand’s Series F round, positioning WROGN alongside its other fashion investment, Hrithik Roshan’s HRX.
Despite its impressive growth and brand visibility, WROGN faced a 29.2% decline in revenue from operations in FY24, dropping to Rs 243.75 crore from Rs 344.3 crore in FY23. The company’s losses also surged by 28.2%, reaching Rs 56.76 crore in FY24 due to weakened sales, despite cost-cutting measures.
India’s fashion and lifestyle sector, valued at $110 billion, continues to grow, with online sales contributing around $11 billion, according to a TMRW X Bain & Company report. With the additional funding from ABDFVL, WROGN aims to strengthen its position in this dynamic market, leveraging the rise of D2C channels and digital platforms for sustained growth.
