Other Private Equity/Strategic Investments
ABDFVL buys 15.74% more in men’s fashion brand Wrogn for Rs.75-Cr
Cricketer Virat Kohli-backed, Bengaluru-headquartered D2C (direct-to-consumer) fashion brand Wrogn has raised about INR 75 crore from Aditya Birla Digital Fashion Ventures Ltd (ABDFVL). With this, ABDFVL has increased its stake in the firm to 32.84% - accounting for 12,225 compulsorily convertible preference shares (CCPS) - on a fully diluted basis from the existing 17.10%.Founded in 2014 by siblings Anjana Reddy and Vikram Reddy, Wrogn sells a range of casual wear, footwear and accessories. Wrogn saw its operating revenue decline 29% to INR 243.8 crore in FY24 from INR 344.3 crore in the previous fiscal year.
In June 2024, Aditya Birla Group’s fashion and lifestyle arm TMRW picked up 16% stake in Universal Sportsbiz Private limited , Wrogn’s parent company for USD 14 million.
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