Aditya Birla Digital Fashion Ventures increases stake in Wrogn to 32.84%
The fashion subsidiary of the Aditya Birla Group, Aditya Birla Digital Fashion Ventures has acquired an additional stake in the Wrogn, an apparel brand backed by Indian skipper Virat Kohli.
The company increased its stake in the brand from the current 32.84 per cent on a fully diluted basis from 17.10 per cent. The stake was acquired for a capital of Rs 75 crore.
Aditya Birla Digital Fashion Ventures will now own 12,225 compulsory convertible preference shares (CCPS) in the brand.
Incorporated in 2012, Virat Kohli-backed brand, Wrogn is engaged in manufacturing, marketing, and distribution (both online and offline) of fashion apparel, footwear, and accessories. The brand increased its revenues from Rs 344 crore in FY23 to Rs 243 crore in FY24.
Aditya Birla Group's fashion and lifestyle arm TMRW acquired a 16 per cent stake in Wrogn's parent Universal Sportsbiz for Rs 125 crore in June 2024. TMRW owns majority stakes in seven D2C fashion brands for a total investment of Rs 444 crore such as Bewakoof, Urbani, Juneberry, etc.
