TMRW, under the capable leadership of Prashant, the CEO, and Co-Founder, has marked its presence in the online e-commerce business landscape. Backed by the prestigious Aditya Birla Group, TMRW is known for its forward-thinking approach and commitment to delivering cutting-edge products and services to its customers.
About – The Indian Garage Co.
The Indian Garage Co, founded in 2012 by Anant Tanted, has been a frontrunner in the world of D2C fashion. Based in Bengaluru, India, the brand has gained recognition for its distinctive blend of traditional elements with a modern twist.
About Acquisition Between TMRW and The Indian Garage Co.
The exciting news is TMRW’s substantial investment in TIGC. Although the exact percentage stake acquired remains undisclosed. TMRW, a Digital First House of Brands venture backed by the Aditya Birla Group, has invested a INR 155 Crores (approximately $18.6 million) in The Indian Garage Co (TIGC).
How this Acquisition benefits TMRW?
With this investment, TMRW wants to solidify its presence in the D2C fashion market, specifically targeting men’s and women’s casual wear. This move reflects TMRW’s forward-looking approach and readiness to adapt to the ever-changing dynamics of the fashion industry. By joining forces with TIGC, they aim to bring their innovative and high-quality fashion offerings to a broader audience.
How this Acquisition benefits TIGC?
TIGC’s impressive financial performance in FY 23, with revenues amounting to 300 crores. With this collaboration with TMRW, TIGC aim to achieve INR 1,500 Crores in revenue over the next five years.