Aditya Birla Digital Fashion Increases Stake in WROGN

WROGN, a men's apparel brand backed by cricketer Virat Kohli, has raised Rs 75 crore (approximately $9 million) from Aditya Birla Digital Fashion Ventures Ltd (ABDFVL), increasing ABDFVL's stake from 17.10% to 32.84%. This investment builds on a previous Rs 125 crore funding from TMRW House of Brands in June, which acquired a 16% stake in the company, valuing WROGN at around $105 million. Founded in 2014 by Anjana and Vikram Reddy, WROGN has faced challenges, with revenues declining by 29.2% to Rs 243.75 crore in FY24 and losses increasing by 28.2% to Rs 56.76 crore. The funding will help ABDFVL expand its portfolio of digital-first brands amidst a growing fashion and lifestyle sector in India, valued at $110 billion. WROGN aims to attract young consumers aged 18 to 30 through its vibrant offerings in casual wear and accessories. This latest investment aligns with ABDFVL's strategy to broaden its digital-first brand portfolio.