With the support of the Aditya Birla Group venture, The Indian Garage Co. aims to reach Rs1500 crore in the next 5 years
Bengaluru: TMRW House of Brands, an Aditya Birla Group venture, has expanded its portfolio of brands with a partnership with the fashion brand The Indian Garage Co. (TIGC) by investing Rs,155 crore, the company said in a press release on Thursday.
“We are excited to announce our partnership with TIGC which expands our portfolio in the casual wear space. With the deep category and brand building experience as well as tech-led scaling path which TMRW brings, we are confident in establishing TIGC as the leading casual wear brand across men and women,” said Prashanth Aluru, co-founder of TMRW.
With the partnership, TIGC aims to exploit multiple growth avenues across channels (including direct-to-consumer and offline/omni-channel) and deeper expansion into sub-brands and categories, the release said. It also aims to reach Rs 1,500 crore in the next 5 years and focus on tier 2 and 3 cities.
Founded by Anand Tanted in 2012 as a tech-enabled fast-fashion D2C (direct-to-consumer) brand, TIGC has grown six times in the last three years. It has clocked a revenue of Rs 300 crore in fiscal year (FY) 2023 with a double-digit profit margin
“We have reached a point in our journey where we felt the need for a partner who would enable us to take the next big stride in our growth journey. Our collaboration with TMRW enables just this! With our fundamentals in place and our robust partnership with TMRW, we are ready to evolve to the next level and position TIGC as a frontrunner of online fashion in the country,” said Tanted.
TMRW is a tech-led House of Brands with a focus on fashion and lifestyle. The company aims to surpass the $1 billion benchmark in revenues, within the next 5 to 7 years, the release added.
