Accel and cricketer Virat Kohli-backed men’s apparel brand Wrogn’s revenue has dropped by over 29% in the fiscal year ending March 2024. Its revenue from operations stood at Rs 243.75 crore during FY24 as compared to Rs 344.3 crore in FY23. In the same period, its losses surged by 28.2%, nearing the Rs 57 crore mark.
Earlier in June, the brand had raised Rs 125 crore ($15 million) from Aditya Birla Group-owned TMRW House of Brands. Overall, it has raised around $90 million till now from the likes of Accel, Flipkart, Kohli, and Sachin Tendulkar since its inception in 2014.
In November 2020, Flipkart invested an undisclosed amount in Wrogn’s Series F round.
According to the company’s financial statements, Wrogn generated Rs 21 crore from interest and gain on financial assets which took its overall revenue to Rs 264.8 crore in FY24.
The brand, founded in 2014 by Anjana and Vikram Reddy, operates through both online and offline retail channels.
Wrogn targets men aged 18-30, offers casual clothing, footwear and accessories.