TMRW is an Aditya Birla Group venture and a completely owned unit of Aditya Birla Fashion Retail Ltd. (ABRFL). On Monday, it announced its investments with eight digital-first lifestyle brands foraying into casual wear, kids’ wear, and western wear. The company said that it would invest 290 crores in these lifestyle brands in an attempt to build a billion-dollar D2C (direct-to-customer) portfolio in the next few years.
Prashant Aluru, CEO and co-founder of TMRW, says, “What the founders bring is typical to any startup.” “What got the brand here is definitely needed to take the brand to the next level, which is the consumer insight, the passion, and perhaps some category nuance, which they have identified through a white space.”
“But equally, what got them here, as we know, will not get them to the next level.” “And hence, their deep partnership with the TMRW team will continue to be founded and led, and their teams will play an active role,” he adds.
The brands chosen for this partnership include women’s western wear brand Berryblush, casual wear brand Bewakoof, kids’ casual wear brand Nauti Nati, athleisure brand Noberi, and casual and denim wear brands Urbano and Veirdo. These brands have a combined revenue run rate of 700 crores, and the company plans to build a portfolio of these 10–12 brands with an investment of INR 500–600 crores.
These eight new partnerships have already helped the group achieve a revenue run rate of more than INR 700 crores, and the company claims to be on track to cross an annual revenue rate of INR 1500 crores over the next 12 months.
TMRW plans to bring growth capital, strategic technology intervention, category expertise, and brand building to the founders.
“We are also putting in place a team that comprises professionals from Meta, Flipkart, Myntra, and Cred.” “This will bring in operational and technology expertise while the founders continue to build their brands,” said Aluru.