English
Arabic
Chinese (Simplified)
Dutch
French
German
Hindi
Indonesian
Italian
Polish
Portuguese
Russian
Spanish
New Delhi: Aditya Birla group venture, TMRW has acquired majority stake of around 70 – 80 per cent for Rs 200 crore in D2C brand Bewakoof. ET reported on November 25 that Aditya Birla Fashion and Retail (ABFRL) was in the final stages of picking a controlling stake in the fashion brand.
“With Bewakoof’s loyal consumer base and our value-add in design, technology, brand building & supply chain, we aim to scale this brand to Rs 500 crore plus in the next 2 years,” said Prashanth Aluru, CEO and co-founder, TMRW.
Earlier this week, TMRW announced that it has invested in 8 digital-first lifestyle brands to establish its presence across spectrum of apparel segments ranging from casual wear, kid’s wear, and western wear. The brand plans to expand in related lifestyle categories including beauty and personal care, it shared in the release.
​​With these partnerships, TMRW aims to create a technology-led digital first ‘House of Brands‘ business over the next several years. The company said it has already achieved a revenue run-rate of Rs 700 crore and is on a path to cross an annual revenue rate of Rs 1,500 crore in the next 12 months.
With TMRW, which was launched in June this year, ABFRL is building a ‘House of Brands.’ TMRW has achieved a revenue run-rate of Rs 700 crore plus and is eyeing to cross an annual revenue rate of more than Rs 1500 crore in the next 12 months.
Commenting on the partnership, Prabhkiran Singh, Founder, Bewakoof said, “With TMRW coming onboard, We have the right partner with enabling skills to help us scale up quickly.” He added that with this capital infusion the fashion retailer will invest on brand building and expansion into Teens and Kidswear over the next 2 years.
Founded in 2012 by Singh, Bewakoof is a casual wear brand focused on Gen-Z and millennials. In FY2022, the D2C brand recorded Rs 180 crore in sales and aims to touch Rs 1500 crore in revenue over the next 5 years.
