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Aditya Birla Group enters direct to consumer business, sets up a new firm TMRW, Retail News, ET Retail

Aditya Birla Group enters direct to consumer business, sets up a new firm TMRWAditya Birla Group has announced the launch of its new D2C entity– TMRW, which will acquire as well as incubate 30 brands in the next three years. The venture will also enable multiple founders to operate within a synergistic platform that will have shared capabilities.

The company has appointed ex-Facebook and Bain executive, Prashanth Aluru, as the CEO and co-founder to lead the build-out of this new venture.

“This venture has the potential to become a significant growth engine by tapping into the new wave of entrepreneurial energy in India. With the launch of this venture, we intend to double down on our ongoing program of strategically attracting new pools of capital that are seeking investment in high-growth businesses,” Ashish Dikshit, MD of ABFRL said.

In February, ABFRL announced it will set up a dedicated company to enter the direct to consumer (D2C) business, part of its strategy to build a portfolio of new-age, digital brands across categories in fashion, beauty and lifestyle segments. D2C brands refer to businesses that have most of their revenue or customer acquisition from direct-to-consumer online channels or those started with an online-first distribution before going omni-channel.

The company which sells clothes and accessories from Louis Philippe, Van Heusen, Allen Solly and Peter England, among others, said it will incubate as well as acquire newer brands.

Nearly 590 new D2C companies have entered the Indian market in the past three years, and they have raised Rs 6,700 crore altogether, according to Tracxn, a market intelligence provider of private company data. The D2C market opportunity in India is expected to be $100 billion by 2025, said ABFRL.

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