WROGN is a D2C men’s wear fashion startup backed by the Indian cricketer Virat Kohli. The company provides an online platform for affordable clothing and accessories. The men’s wear startup secured 9 million USD from Aditya Birla Digital Fashion Ventures Ltd in its ongoing funding round.
The company mentioned in an exchange filing that after this funding round, the firm’s stake increased in WROGN to 32.84 percent on a fully diluted basis.
The startup plans to use these fresh proceeds to scale its operations, enhance its platform, expand its services, and develop a market presence. The D2C fashion brand has a product portfolio including apparel, footwear, and accessories.
The development came just after the company raised Rs 125 crore from TMRW House of Brands. The investment provided 16 percent of the firm’s stake to TMRW and valued the company at 105 million USD. TMRW is a company under the Aditya Birla Group that is currently an investor in eight Indian fashionwear brands including The Indian Garage Co, JuneBerrry, and Verido.
This fashion brand claims to offer products in various categories from casual wear to footwear. The firm received interest from the general public and investors with cricketer Virat Kohli’s influence. The firm earns income through convenience fees raised from deliveries, designing, and selling the products. The startup has raised over $90 million across all its equity and debt funding rounds since its inception, including the funding round led by Flipkart during its series F funding round.
The D2C fashion startup posted a 29.2 percent decrease in its operational revenue to Rs 243.75 crore in FY24. However, the net loss also increased by 28.2 percent and stood at Rs 56.76 crore in the same duration. The decline in sales added to the increased net loss. The company plans to control its losses by reducing its operating expenses and employee benefits. The development came just when the D2C market segment saw increased investor interest.
The data intelligence platform, thekredible mentioned that the D2C fashion sector is expected to cross $43.2 billion by the end of next year. The D2C brand offers an online shopping platform for casual wear, apparel, accessories, and footwear with the best shopping experience. Wrogn receives investments from Accel, Sachin Tendulkar, Virat Kohli, and Flipkart. The company faces competition from D2C fashion brands such as TCNS clothing, Snapdeal, and HRX.
Conclusion :
The D2C fashion startup WROGN secured Rs 75 crore in its fresh funding round led by Aditya Biral Digital Fashion Ventures Ltd. Wrogn offers an online marketplace and offline stores for men’s clothing, apparel, accessories, and accessories. This new investment from Aditya Birla Digital Fashion Ventures helped the firm to increase its stake to 32 percent in the Wrogn.
The D2C fashion sector is expected to grow and reach the 43.2 billion USD mark by 2025. The brand used Virat Kohli’s influence to expand its reach and partnerships with major e-commerce platforms like Flipkart.
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