Aditya Birla Digital Fashion Ventures Ltd, a subsidiary of Aditya Birla Fashion and Retail Ltd, has invested Rs 75 crore in Wrogn, a men's wear brand co-founded by cricketer Virat Kohli and backed by Accel. This investment increases Aditya Birla's stake in Wrogn from 17.10% to 32.84% on a fully diluted basis. The purpose of this new infusion is to enhance ABDFVL's portfolio of digital-first brands, continuing the strategy of milestone-based valuations for its investments.
The investment was detailed in a stock exchange filing, indicating that this funding represents the final portion of the stated primary investments into Wrogn. Earlier, on June 19, it was reported that TMRW House of Brands, an e-commerce rollup venture under the Aditya Birla Group, had invested Rs 125 crore in Wrogn.
Wrogn, founded in 2014 by Anjana and Vikram Reddy, caters to men aged 18-30 and offers a range of casual clothing, footwear, and accessories characterized by bold prints, vibrant colors, and streetwear influences. The brand operates through both online and offline retail channels, aiming to establish a significant presence in the men's fashion market.
ABFRL, an Indian fashion retail company based in Mumbai, is known as Aditya Birla Fashion and Retail Limited. It came to light following the merging of Aditya Birla Group's branded apparel businesses, including ABNL's Madura Fashion division, PFRL, and MFL, in May 2015. After merging, PFRL's name was changed to Aditya Birla Fashion and Retail Ltd.
.jpg "Overcoming the Hurdles of Scaling a Startup")
