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WROGN raises $9 million from Aditya Birla Digital Fashion

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  • Men’s apparel brand WROGN has secured an additional Rs 75 crore in funding from Aditya Birla Digital Fashion Ventures Ltd, increasing its ownership stake from 17.10% to 32.84%.
  • The funding is part of a milestone-based investment strategy, with completion expected within 30 to 90 days.
  • WROGN, founded in 2014, targets young men and has leveraged partnerships with e-commerce platforms and cricketer Virat Kohli to strengthen its market presence.
  • Despite its growth efforts, WROGN’s revenue fell by 29% in FY24, resulting in increased losses of Rs 56.76 crore.
  • The investment aligns with Aditya Birla Group’s strategy to expand its digital and fashion brand portfolio, focusing on growing WROGN’s market share and optimizing digital retail channels.

Men’s apparel brand WROGN has secured an additional Rs 75 crore in funding from Aditya Birla Digital Fashion Ventures Ltd (ABDFVL), a subsidiary of Aditya Birla Fashion and Retail Ltd.

This new investment raises ABDFVL’s ownership in WROGN from 17.10% to 32.84% on a fully diluted basis, according to the company’s stock exchange filing.

The transaction, which is set to be completed within the next 30 to 90 days, is part of an ongoing series of investments based on certain milestones achieved by WROGN.

Previous investments and brand valuation

In June 2024, WROGN received Rs 125 crore (around $15 million) from TMRW House of Brands, also an Aditya Birla Group company, which increased its stake to 16% at the time, valuing the brand at approximately $105 million.

WROGN’s performance and market presence

Founded in 2014 by Anjana and Vikram Reddy, WROGN is known for its casual apparel, footwear, and accessories, targeting young men aged 18-30.

The brand has leveraged partnerships with e-commerce platforms and cricketer Virat Kohli’s influence to build a robust online and offline presence.

Despite its growth, WROGN’s revenue fell by 29% in the fiscal year ending March 31, 2024, from Rs 344 crore in FY23 to Rs 243 crore in FY24. The decline in revenue has also contributed to an increase in losses, which rose by 28%, reaching Rs 56.76 crore.

Aditya Birla Group’s fashion expansion strategy

The investment in WROGN is part of a broader strategy by the Aditya Birla Group to enhance its digital and fashion brand portfolio.

TMRW, the group’s digital-first fashion arm, has been actively investing in various Indian brands such as The Indian Garage Co, Bewakoof, Nobero, and others. These investments align with the company’s focus on building a diverse portfolio across different fashion segments, including casualwear, athleisure, children’s wear, and denim.

ABDFVL’s additional funding for WROGN represents its long-term plan to grow the brand’s market share, optimize its digital retail channels, and solidify its position in the competitive Indian fashion industry.


Based on the information provided in the article, here is a summary of the funds, investors, startup details, founders, and fundraising series for the brand WROGN:

Startup

  • Name: WROGN
  • Founded: 2014
  • Founders: Anjana and Vikram Reddy
  • Products: Casual apparel, footwear, and accessories targeting young men aged 18-30.

Funding Rounds

  1. Latest Funding

    • Amount: Rs 75 crore
    • Investor: Aditya Birla Digital Fashion Ventures Ltd (ABDFVL), a subsidiary of Aditya Birla Fashion and Retail Ltd.
    • Ownership Post-Investment: Increased from 17.10% to 32.84% (fully diluted).
    • Completion Timeline: Within 30 to 90 days (as of the article date).
  2. Previous Funding
    • Amount: Rs 125 crore (approximately $15 million)
    • Investor: TMRW House of Brands (another company under Aditya Birla Group)
    • Ownership Post-Investment: Increased to 16%.
    • Valuation Post-Investment: Approximately $105 million.

Investors

  • Aditya Birla Digital Fashion Ventures Ltd (ABDFVL)
  • TMRW House of Brands

Summary of Performance

  • Revenue: Fell by 29% from Rs 344 crore in FY23 to Rs 243 crore in FY24.
  • Losses: Increased by 28% to Rs 56.76 crore.

Strategic Insights

  • The investments are part of the Aditya Birla Group’s strategy to enhance its digital and fashion brand portfolio.
  • TMRW has also invested in other Indian brands like The Indian Garage Co, Bewakoof, and Nobero, indicating a broader focus on diversifying its offerings in the fashion segment.

This summary encapsulates the critical details of WROGN’s funding and organizational structure based on the provided content.

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