Aditya Birla Fashion and Retail said that TMRW, an Aditya Birla Group venture, has announced partnership with 8 Digital-First lifestyle brands.
TMRW is building India's largest portfolio of disruptor brands in the fashion & lifestyle space and enabling the next phase of direct to consumer (D2C) growth in India. TMRW adds value to their partner brands through - cross channel expertise, deep consumer insights, value chain mastery, intelligent fashion & lifestyle technology, and powerful e-commerce ecosystem connects.
TMRW has struck partnerships with the new-age founders within few months of the launch of the venture. It is on a path to create a leading technology-led digital first 'House of Brands' business over the next several years. With these 8 brands on board, TMRW has achieved a revenue run-rate of Rs 700 crore plus and is on a path to cross an annual revenue rate of Rs 1500 crore plus in the next 12 months.
The investment in these 8 D2C brands establishes a strong foundation with a diversified portfolio across several fashion sub-categories. With this portfolio, TMRW has established presence across a broad spectrum of apparel segments ranging from casual wear, kid's wear to western wear. The plan is to expand in related lifestyle categories including beauty & personal care.
Speaking about the investment, Ashish Dikshit, managing director, Aditya Birla Fashion and Retail, said, "ABFRL has a distinctive heritage of building marquee fashion & lifestyle brands. By tapping into ABFRL's fashion capabilities and category expertise, 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.
ABFRL is part of a leading Indian conglomerate, the Aditya Birla Group. It is India's first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.
The company reported consolidated net profit of Rs 29.42 crore in Q2 FY23, steeply higher than Rs 5.09 crore posted in Q2 FY22. Revenue from operations jumped 50% to Rs 3,074.61 crore in Q2 FY23 as against Rs 2,054 crore in the same quarter last year.
The scrip rose 0.24% to currently trade at Rs 310.70 on the BSE.
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