TMRW, an Aditya Birla Group venture and a wholly-owned unit of Aditya Birla Fashion Retail Ltd (ABRFL), on Monday announced investments with eight digital-first lifestyle brands foraying into casual wear, kid’s wear and western wear market.
The D2C brands include Berrylush, Bewakoof, Natilene, Juneberry, Nauti Nati, Nobero, Urbano, Veirdo.
ABFRL was in talks to buy controlling stakes in Hyderabad-based Urbano Fashion; Hyderabad-based Pratyaya E-Commerce Pvt. Ltd; and Ahmedabad-based Awesomefab Shopping Pvt. Ltd, as reported by VCCircle on 21 October.
TMRW was launched earlier this year in line with the group’s strategy to launch and back new-age digital ventures. The venture is ABFRL’s attempt at creating a ‘House of Brands’ entity and actively invest in brands that are born online and draw a large part of their sales via the internet.
“ABFRL has a distinctive heritage of building marquee fashion and lifestyle brands. By tapping into ABFRL’s fashion capabilities and category expertise, TMRW is on the path to replicate the success in the digital first space by building the next generation of memorable brands that will drive India’s E-commerce growth," said Ashish Dikshit, Managing Director, Aditya Birla Fashion and Retail Ltd.
Commenting on its associations with the eight new brands, the company said that partnerships with the new-age founders have been struck within few months of the launch of the venture. “With these eight brands on board, TMRW has achieved a revenue run-rate of over ₹700 crore and is on a path to cross an annual revenue rate of ₹1,500 crore in the next 12 months," the company said in a statement announcing the investments.
With this portfolio, TMRW has established presence across apparel segments ranging from casual wear, kid’s wear to western wear.
The plan is to expand in related lifestyle categories including beauty and personal care, the company said.
The D2C brands include women’s western wear label Berrylush, apart from casual wear brand Bewakoof; women’s casual and western wear brand Juneberry. The company has also invested in teen’s occasion wear brand Natilene, kid’s wear label Nauti Nati and athleisure and active wear under Nobero, apart from casual and denim wear brand Urbano and casual wear and fast fashion label Veirdo.
“TMRW’s vision is to partner with new-age founders by bringing in strategic, operational and technological capabilities in addition to growth capital. With synergistic investments that will power multiple brands, TMRW will enable blitz scaling and brand building," the company said.