Aditya Birla Fashion has invested Rs 290 crore in eight digital-first brands.

TMRW cofounder and CEO Prashanth Aluru stated that their investment will help these brands scale to become category leaders as well as category creators.

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TMRW, an Aditya Birla Group lifestyle brand, acquired significant minority stakes in eight digital-first lifestyle brands on Monday for Rs 290 crore.

The eight investments/partnerships include women's Western wear brand Berrylush; casual & expressive wear brand Bewakoof; women's casual & Western wear brand Juneberry; teen's occasion wear brand Natilene; kid's wear label Nauti Nati; athleisure & active wear brand Nobero); casual & denim wear label Urbano; and casual wear & fast fashion brand Veirdo, according to the company in a statement.

However, a company source told PTI that TMRW has invested Rs 290 crore in each of these companies for a significant minority stake.

According to Ashish Dikshit, managing director of Aditya Birla Fashion and Retail, the company has been building marquee fashion and lifestyle brands, and its latest addition to the house of brands platform TMRW is on the path to replicate success in the digital-first space by building next generation brands.

These collaborations with new-age founders have occurred within a few months of the launch of TMRW, which was only launched in June of this year. According to Dikshit, TMRW has already achieved a revenue run-rate of Rs 700 crore and expects to increase this to Rs 1,500 crore in the next 12 months.

TMRW has a presence in a wide range of apparel segments, from casual wear to kid's wear to Western wear, and he plans to expand into related lifestyle categories such as beauty and personal care.

TMRW cofounder and CEO Prashanth Aluru stated that their investment will help these brands scale to become category leaders as well as category creators.

TMRW was launched in June 2022 as the group's first digital 'house of brands' venture in the fashion and lifestyle space, with the goal of creating the country's largest portfolio of disruptor brands in the fashion and lifestyle space and enabling the next phase of direct-to-consumer market growth, which is expected to reach USD100 billion by 2025.

TMRW announced at the time of its launch that it would acquire and incubate over 30 innovative brands over the next three years, as well as enable multiple founders to operate within a synergistic house of brands platform that shares a common vision and shared capabilities.