Funding · Commerce & Consumer Brands
Aditya Birla's TMRW invests ₹155 crore in TIGC
By Startup Enthusiast ·
- Date
- Company
- The Indian Garage Co
- What it does
- Men's fashion brand
- Kind
- Funding
- Amount
- ₹155 Cr
- Based in
- Bengaluru
- Founded
- 2012
What they do
The Indian Garage Co, founded in 2012, sells men's casual clothing and said it earned ₹300 crore revenue in FY23
What happened
In October 2023 TMRW, the Aditya Birla Group's online brands venture, invested ₹155 crore in the company
Why it matters
TIGC aimed for ₹1,500 crore revenue in five years, focusing on smaller cities; TMRW also owns a majority of Bewakoof
The details
- TMRW, owned by the Aditya Birla Group, invested ₹155 crore in The Indian Garage Co in October 2023.
- TIGC said it made ₹300 crore revenue in FY23 with a double-digit profit margin.
- It targeted ₹1,500 crore in revenue within five years.
- It planned to grow sales in tier-2 and tier-3 cities.
- TMRW later held a 51% majority stake.
The bigger picture
- TMRW builds a house of online brands in fashion and lifestyle.
- In 2022 it had put ₹290 crore into eight brands, including Bewakoof.
- TIGC added casual wear to TMRW's portfolio.
About the business
- TIGC sells men's casual wear online.
- It was founded in 2012.
- It is based in Bengaluru.
The deal
- Type
- funding
Investors
- TMRW (lead) — Aditya Birla Group's venture that buys and scales online brands.
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