Aditya Birla Group’s venture TMRW plans to launch a technology-led ‘House of Brands’ business over the next years, kicking off with an investment in eight digital-first lifestyle brands.
The eight D2C brands are Berrylush, Bewakoof, Juneberry, Natilene, Nauti Nati, Nobero, Urbano, and Veirdo. The investment was estimated to be valued at US$35.6 million.
The investment announcement came six months after Aditya Birla Group introduced TMRW as its digital first ‘House of Brands’ venture, aiming to create e India’s largest portfolio of disruptor brands in the fashion & lifestyle space and enable the next phase of D2C growth in India. The venture plans to acquire and incubate more than 30 brands in the next three years.
“With our investment and deep value-addition, we are confident in scaling existing leading brands to become category leaders as well as be the category creators in several emerging categories,” said Prashanth Aluru, CEO and founder of TMRW.
The venture said with the eight brands on board, it has achieved a revenue run-rate of more than $86 million and is on a path to surpass annual revenue of $185 million in the next 12 months.
“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, MD at Aditya Birla Fashion and Retail.
Last week, Aditya Birla Group was reported to acquire a majority stake in Bewakoof for $12.3 million.
Earlier this month, the Indian fashion conglomerate signed an agreement with Galeries Lafayette to bring the French luxury department store chain to India, opening two flagship stores in Mumbai and Delhi.
