Aditya Birla’s TMRW Invests INR 155 Cr In D2C Brand The Indian Garage Co

Aditya Birla’s TMRW Invests INR 155 Cr In D2C Brand The Indian Garage Co

SUMMARY

TIGC claims to have a leadership position in the casual wear market, with a strong presence in the men’s wear segment. It recently entered women’s wear category

TMRW said the investment will help it exploit growth avenues across D2C, offline, and other channels and deepen expansion into sub-brands and categories

TMRW counts names such as Bewakoof, Berrylush, Juneberry, Natilene, Nauti Nati, Nobero, Urbano, and Veirdo in its portfolio

The Aditya Birla Group’s house of brands business TMRW has invested INR 155 Cr (about $18.6 Mn) in D2C brand The Indian Garage Co (TIGC).  

In a statement, TMRW said the investment will help it exploit growth avenues across D2C, offline, and other channels and deepen expansion into sub-brands and categories. However, it didn’t disclose the stake acquired by TMRW in the brand.

Founded in 2012 by Anant Tanted, TIGC claims to have a leadership position in the casual wear market, with a strong presence in the men’s wear segment. Recently, it also expanded into women’s wear and plus size segments with FreeHand and HardSoda brands, respectively.

TIGC claimed to have generated a revenue of INR 300 Cr in FY23 with a healthy profit margin. “With TMRW’s investment and capabilities, TIGC has a path to become the leading brand in men & women casual wear with a path to INR 1,500 Cr in the next 5 years and a strong focus on Tier-II/III city-led growth,” the statement said.

Commenting on the latest addition in its portfolio, Prashanth Aluru, CEO and cofounder of TMRW, said, “With a deep consumer understanding & product strength, TIGC has demonstrated a compelling product-market fit, stellar scalability and strong consumer love reflected in their Top 1 to 5 ranking across e-commerce platforms. With the deep category & brand building experience as well as tech-led scaling path which TMRW brings, we are confident in establishing TIGC as the leading casual wear brand…” 

The rise in internet penetration and improving access to smartphones in the country have given a boost to online shopping, which has spawned a number of D2C brands. Bewakoof, DaMENSCH, FableStreet, The Souled Store are among the popular D2C brands in the country.

Recently, TMRW invested INR 200 Cr in Bewakoof, which is one of the eight digital-first lifestyle brands in which the company decided to invest.

The Aditya Birla Group ventured into the realm of house of brands with TMRW in June 2022, with plans to build a portfolio of fashion and lifestyle brands by acquiring and incubating over 30 brands in the next three years. Its current portfolio includes names such as Berrylush, Juneberry, Natilene, Nauti Nati, Nobero, Urbano, and Veirdo.

According to Inc42 data, the Indian ecommerce market is expected to clock a CAGR of 19% between 2022 to 2030 to reach a size of $400 Bn by 2030. Of this, the fashion and apparel market is expected to grow at the fastest rate at 24% and reach a size of $112 Bn by 2030.

Consequently, startups as well as corporates are trying to make the most of this opportunity. Recently, Reliance Retail acquired a majority stake in actor Alia Bhatt’s children’s wear brand Ed-a-Mamma, while AJIO entered into a partnership with H&M.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Aditya Birla’s TMRW Invests INR 155 Cr In D2C Brand The Indian Garage Co-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Aditya Birla’s TMRW Invests INR 155 Cr In D2C Brand The Indian Garage Co-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Aditya Birla’s TMRW Invests INR 155 Cr In D2C Brand The Indian Garage Co-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Aditya Birla’s TMRW Invests INR 155 Cr In D2C Brand The Indian Garage Co-Inc42 Media
Aditya Birla’s TMRW Invests INR 155 Cr In D2C Brand The Indian Garage Co-Inc42 Media
You’re in Good company