Aditya Birla Fashion invests Rs 290 crore in 8 digital-first brands

Aditya Birla Fashion and Retail (Representative Image)

TMRW, a lifestyle brand from the Aditya Birla Group, on Monday picked up significant minority stakes in eight digital-first lifestyle brands for Rs 290 crore.

The eight investments/partnerships include women's Western wear brand Berrylush; casual & expressive wear brand Bewakoof; women's casual & Western wear brand Juneberry; teen's occasion wear brand Natilene; kid's wear label Nauti Nati; athleisure & active wear brand Nobero); casual & denim wear label Urbano; and casual wear & fast fashion brand Veirdo, the company said in a statement without disclosing the quantum of money invested or the stake picked up.

However, a company source told PTI that TMRW has cumulatively invested Rs 290 crore for a significant minority stake in each of these companies.

Ashish Dikshit, the managing director of Aditya Birla Fashion and Retail, said the company has been building marquee fashion & lifestyle brands and its latest addition in the house of brands platform TMRW is on the path to replicate the success in the digital-first space by building the next generation brands.

These partnerships with the new-age founders have been struck within a few months of the launch of TMRW which was launched only in June this year. TMRW has already achieved a revenue run-rate of Rs 700 crore and expects to take this to Rs 1,500 crore in the next 12 months, said Dikshit.

TMRW has a presence across a broad spectrum of apparel segments ranging from casual wear, kid's wear to Western wear and plans to expand in related lifestyle categories including beauty & personal care, he added.

Prashanth Aluru, cofounder and chief executive TMRW, said their investment should help these brands scale to become category leaders as well as category creators.

The group launched TMRW in June 2022 as digital first 'house of brands' venture in the fashion & lifestyle space with an aim to create the country's largest portfolio of disruptor brands in the fashion & lifestyle space and enable the next phase of direct-to-consumer market growth, which is projected to become a USD100 billion market by 2025.

At the launch the company had said over the next three years, TMRW would acquire and incubate over 30 innovative brands and will also enable multiple founders to operate within a synergistic house of brands platform that share a common vision and shared capabilities.