Aditya Birla Group launches new venture -- TMRW
01 June 2022, Mumbai:
The Aditya Birla Group has launched a new venture under its House of Brands entity. Known as TMRW, the move involves launch of New Age digital ventures including a portfolio of disruptor brands in the fashion and lifestyle space. The move also facilitates the next phase of D2C growth in India. TMRW will acquire as well as incubate over 30 innovative, customer-obsessed brands. The brands will be managed by founders operating within a synergistic ‘house of brands’ platform that share a common vision and shared capabilities.
The new venture will be led by Prashant Aluru, Former CEO Facebook and Bain & Co as CEO & Co-Founder. He will set up a nimble and agile founding team with the right skill sets and capabilities. Having extensive experience in digital and technology strategy, growth and investing, Aluru has experience in helping build and scale new age ventures in Digital & E-Commerce.
Ashish Dikshit, Managing Director, ABFRL says, “The venture can help tap into the new wave of entrepreneurial energy in India. It will help the company expand ongoing program of strategically attracting new pools of capital that are seeking investment in high-growth businesses.”
Prashanth Aluru, CEO and Co-Founder, TMRW adds, “The support of Aditya Birla Group and long-term investment will help the company fuel growth of several brands besides shaping the next phase of digital commerce growth till 2030 and beyond.” Through its digital-first focus, the two companies will jointly create an ecosystem of the most-loved disruptor brands partnering closely with highly competent founders.
