WROGN is a D2C men’s wear fashion startup that offers affordable clothing and accessories. The platform offering men’s wear announced a 29.2 percent decrease in its revenue to Rs 243.75 crore in FY24. The company saw a 28.2 percent increase in loss to Rs 56.76 crore in the same duration. The startup also provides products such as apparel, footwear, and accessories. The sales of these products are the company’s primary source of revenue.
Entrackr mentioned in its report that the firm also earned Rs 21 crore through interest and gain on financial assets. This fashion company offers various products from casual wear to footwear. The firm has developed a strong market presence with cricketer Virat Kohli’s influence. The firm earns revenue through convenience fees raised from deliveries, designing, and selling the products. The financial sources provide Rs 21 crore and make the total income to cross Rs 264.8 crore in FY24. in the Q1 FY25. The company previously secured has raised around $90 million across all its equity and debt funding rounds since its inception. This includes the amount raised from Flipkart during its series F funding round.
Wrogn offers an online shopping platform with the best shopping experience. The legal, business sourcing, marketing, hosting, and other expenses decreased for this fiscal year. However, 53.6 percent of the total expenditure goes to the cost of materials. The total expenditure of the firm increased by 24.7 percent to Rs 305.56 crore in FY24. Meanwhile, the employee benefits saw a 7.5 percent decrease to Rs 32.36 crore in the same duration. The employee cost also includes the expanded ESOP worth Rs 1.96 crore. The company faces competition from other men’s wear and accessories providers such as TCNS clothing, Flipkart, Snapdeal, and Monrow.
The fashion brand saw a 63 percent increase in the operating cash outflows to Rs 5.23 crore in FY24. The firm plans to improve its business model while offering innovative solutions, and solidify its position well in the global market. The company plans to control its losses by reducing its operating expenses and employee benefits. The EBITDA margin also increased to -6.04 percent while the ROCE stood at -72.07 percent. The data intelligence platform, thekredible mentioned that the D2C fashion sector is expected to reach $43.2 billion by 2025.
Conclusion :
The D2C fashion startup WROGN announced a 29.2 percent decrease in its revenue to Rs 243.75 crore in FY24. Entrackr reported. This fashion brand offers an online marketplace for men’s clothing and accessories. The sale of these products and interest and gain on financial assets are the major sources of the company’s revenue. The company also posted a 28.2 percent increase in net loss for FY24. The total expenditure of the firm decreased by 24.7 percent and crossed Rs 305.56 crore in the same duration. Thekredible mentioned that the D2C fashion market is expected to grow and cross the 43.2 billion USD mark by next year. Worgn competes with TCNS Clothing, Snapdeal, and others.
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