Kumar Mangalam Birla’s Festive Move: Aditya Birla Digital Fashion Invests Rs 75 Crore in Virat Kohli’s Wrogn

In a strategic move ahead of the festive season, Kumar Mangalam Birla’s Aditya Birla Digital Fashion Ventures Ltd (ABDFVL) has invested Rs 75 crore in Wrogn, the popular men’s fashion brand co-owned by cricketer Virat Kohli and backed by Accel. This investment marks a significant increase in Aditya Birla’s stake in Wrogn, now rising from 17.10% to 32.84% on a fully diluted basis.

In its stock exchange filing, Aditya Birla Fashion and Retail Ltd (the parent company of ABDFVL) stated that this infusion completes the remaining portion of their committed investment into Wrogn. The move aims to enhance ABDFVL's portfolio of digital-first fashion brands, positioning them to capitalize on the upcoming festive shopping boom.

Founded in 2014 by Anjana and Vikram Reddy, Wrogn is known for its bold prints, streetwear influences, and vibrant clothing targeted at men aged 18-30. Despite seeing a 29% revenue decline to Rs 243 crore in the fiscal year ending March 2024, the brand remains a major player in India’s casual wear market.

This investment comes after Aditya Birla’s TMRW House of Brands had previously invested Rs 125 crore in Wrogn earlier this year, part of their ongoing efforts to build a robust portfolio of digital-first brands. Wrogn operates through both online and offline channels and is set to benefit from this new infusion of capital as it expands its market reach.

With this latest investment, Aditya Birla Digital Fashion Ventures now holds 12,225 compulsory convertible preference shares (CCPS), constituting a 32.84% stake in the brand.

TMRW, an e-commerce rollup venture owned by Aditya Birla, has already backed several other Indian fashion brands, including The Indian Garage Co, Bewakoof, Nobero, and JuneBerry, further expanding its foothold in the digital fashion industry.

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