Aditya Birla Group’s e-commerce business Tmrw has invested Rs 155 crore in men’s casual wear brand The Indian Garage Co. The funding injection will enable The Indian Garage Co to scale up its operations and will add to Tmrw’ casual wear portfolio.
“We are excited to announce our partnership with TIGC, which expands our portfolio in the casual wear space,” said Tmrw’s chief executive Prashanth Aluru, ET Tech reported. “With the deep category and brand-building experience as well as the tech-led scaling path Tmrw brings, we are confident in establishing TIGC as the leading casual wear brand across men and women.”
The Indian Garage Co has reached a place where it is ready to take the next “big stride” on its expansion path, according to its founder Anant Tanted. The business reported a revenue total of Rs 300 crore in the 2023 financial year with a double digit profit margin and is targeting reaching Rs 1,500 in revenue in the coming five years.
The Indian Garage Co launched in 2012 and is based in Bengaluru, according to its Facebook page. The business retails from its direct to customer e-commerce store which features a range of bright sweatshirts, graphic t-shirts, relaxed button-downs, and accessories among other products.
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