Wrogn, Backed by Virat Kohli, Gets Investment From Aditya Birla Digital Fashion of INR 75 Crore
Aditya Birla Digital Fashion Ventures Ltd., often known as ABDFVL, contributed an additional INR 75 crore to Wrogn, the apparel and footwear company supported by cricket player Virat Kohli.
As per an exchange filing on 16 September 2024, ABDFVL's stake in Wrogn will rise from 17.1% to 32.84% on a fully diluted basis, consequent to this investment. According to an exchange filing, the purchase of the additional stock would be settled with cash within 30 to 90 days.
ABDFVL is Expanding its Portfolio
As stated in the filing, the new funding is a "continuation of its earlier investment on certain milestone-based valuations." It further stated that this will support the growth of ABDFVL's portfolio of digital-first businesses. Wrogn, which was incorporated in 2012, is a company that manufactures, markets, and distributes accessories, footwear, and fashion clothes.
From INR 344 crore in fiscal 2023 to INR 243 crore in fiscal 2024, Wrogn's revenue decreased. In the fiscal year 2022, the company declared revenue of INR 336 crore. About a month has passed since Aditya Birla Fashion and Retail was given permission to raise up to INR 500 crore through the issuance of non-convertible debentures, at which point a larger interest in Wrogn was acquired.
The First Quarter Performance of Aditya Birla Fashion
In the first quarter of the fiscal year 2025, Aditya Birla Fashion reported sales that increased 7.2% year over year to INR 3,428 crore from INR 3,196 crore in the corresponding quarter of the previous fiscal year. Compared to the same period previous year, when the company's loss was INR 162 crore, its loss for the April–June quarter increased to INR 215 crore.
For the three months ending June 30, 2025, the fashion retail company's EBITda increased by 13% to INR 359 crore, and its margins expanded to 10.5%.
Lately, Many Fashion Businesses have Raised Funding
Early-stage venture capital firm Blume Ventures invested $5 million in ethnic apparel brand Fashor in a mix of main and secondary transactions on August 13.
Sorin Investments led a $4.25 million seed round for custom-made and ready-to-wear trousers manufacturer The Pant Project in June. Men's wear and fashion firm Rare Rabbit closed its INR 500 crore first institutional fundraising round headed by A91 Partners in May.
The fashion and lifestyle sector is India's second largest consumer category, at $110 billion, with 10% online at $11 billion, according to TMRW X Bain & Company, an Aditya Birla Group Venture. The online fashion market is estimated to reach $35 billion by FY28 at a 25% CAGR. Fashion labels are more accessible thanks to e-commerce. Since 2019, the category has grown 30% yearly. With its expertise and solid pedigree, TMRW House of Brands can capitalise on this opportunity and build its fashion and lifestyle businesses.
Pratyusha Srivastava
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