HomeFunding AlertAditya Birla Fashion and Retail seeks to acquire Bewakoof for INR 100CR

Aditya Birla Fashion and Retail seeks to acquire Bewakoof for INR 100CR

Aditya Birla Fashion and Retail is in the concluding stages of investing Rs 100 crore to acquire a controlling stake in Bewakoof. Acquiring the clothing and accessories brand would mark ABFRL’s entry into the direct-to-customer segment of the fashion market.

“Both companies have signed a non-disclosure agreement and have also finished due diligence,” an anonymous senior executive, ET Bureau reported. “The team at Bewakoof is also moving to join Aditya Birla’s new firm.”

Acquiring online-first brands with stong sales and a loyal customer base enables larger businesses to catch up after entering the online market comparatively late. ABFRL announced last quarter that it plans to invest in eight to 10 early stage digital first brands, with a focus on fashion, before the end of the 2023 financial year.

Founded in 2012 as one of the first D2C brands in India, Bewakoof clocked annual revenues of about Rs 250 crore. Since inception, it has managed to raise Rs 160 crore from investors such as Investcorp, IvyCap Ventures, and Spring Marketing Capital.

Aditya Birla Fashion set up its D2C entity TMRW in June, stating that it will acquire as well as incubate 30 brands within the next three years. The new firm is acquiring Bewakoof as part of Aditya Birla Fashion’s new strategy to create a portfolio that comprises new-age digital brands across fashion, beauty, and lifestyle segments.

“We are surely going to see a lot more such deals happening in the near future. This also helps early-stage investors get exit opportunities at a time when larger funding rounds look a tad challenging amidst a global economic slowdown,” said Dhianu Das, cofounder, Agility Ventures.


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Vishvajeet Kumar Gupta
Vishvajeet Kumar Guptahttps://marketmoney.in/
Vishvajeet Kumar is the Author & Co-Founder of the Marketmoney.in. He has also Appearing his graduation in Cadet Officer from Chennai . He is passionate about Blogging & Little-Bit in Banking.

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