Jobaaj Stories
The Aditya Birla group announced the launch of its new 'House of Brands' entity- TMRW.
'House of Brands' is a business setup where a company houses several brands that are all independent of each other and cater to their own audience. Such a business sets up or acquires growing brands and adds in marketing and managerial efforts to improve such brands.
TMRW will acquire and incubate well over 30 brands over three years. This is part of the group's plan to launch and back new-age ventures. The company said that TMRW will enable India's next phase of D2C growth which is poised to reach $100 billion by 2025, according to the company.
Paymate files DHRP with SEBI to launch its IPO, read more.
TMRW will tap into the extensive range of capabilities and networks that the Aditya Birla Group and ABFRL ecosystems provide to emerging and disruptor brands. Experts feel this is the right time to invest in upcoming ventures since many brands are seeing flattening growth and fundraising is slowing down due to investors' lower risk appetite.
“The formal launch of our D2C business, Tmrw, is a key milestone for the company. This venture has the potential to become a significant growth engine by tapping into the new wave of entrepreneurial energy in India,” said Ashish Dikshit, MD of Aditya Birla Fashion and Retail Ltd (ABFRL).
Moreover, the group has announced the appointment of Prashanth Aluru, a former Meta and Bain & Company executive, as co-founder & CEO of the venture. He will be responsible for setting up a robust founding team for the venture.
“I am excited to embark on this journey to build Tmrw - a long-term enduring platform that will be home to the leading disruptor brands that provide the new age digitally savvy consumer what she is looking for across Fashion & Lifestyle,” Aluru said.
Article by Aman Agarwal.
This news piece is brought to you in association with jobaaj.com
