TMRW, the direct-to-consumer venture wing of Aditya Birla Group, has invested in eight D2C brands to establish a ‘House Of Brands’ entity in the coming years. This entity aims to bolster the company's presence in India’s D2C marketplace by backing other online brands that have strong online sales.
TMRW claims to help these brands with digital marketing platforms including Facebook, Google and Instagram in the future.
Talking about the investment, Prashanth Aluru, chief executive officer and co-founder of TMRW said, “We have taken a majority stake and invested in these brands to scale them to the last level. This is the first foundation that we have built. We will expand from these to other apparel (and) to other non-apparel fashion categories as well. And starting next year, we will expand into beauty and personal care.”
“We are also putting in place a team that comprises professionals from Meta, Flipkart, Myntra, and Cred. This will bring in operational and technical expertise, while the founders will continue to build their brands,” Aluru further added
Aditya Birla Fashion and Retail Limited (ABFRL) is reportedly in talks with one of the oldest D2C brands in India, Bewakoof. Sources suggest that through TMRW, ABFRL may invest Rs 100 crore to buy a majority stake in the Mumbai-based unicorn. Known for its fashion accessories, Bewakoof has been struggling to get funds from investors in recent times and looking for potential buyers, The Economic Times reported.
However, both companies have chosen to remain silent about this deal.
In an attempt to support digital ventures, the Aditya Birla group launched TMRW in June 2022. The D2C wing has achieved a revenue run rate (RRR) of 700 crore till now and is aiming to cross 1,500 crore in the next few months. Additionally, it is eying to acquire 30 customer-based brands in the coming time.