Aditya Birla Fashion and Retail is in the final stages of acquiring a majority stake in a youth-targeted apparel and accessories brand, Bewakoof, for up to 100 crores. This will mark Aditya Birla Fashion’s entry into the D2C segment. 

Both parties have signed non-disclosure agreements with due diligence. The team at Bewakoof will be joining Aditya Birla’s new firm. 

Founded by Siddharth Munot and Prabhikaran Singh, Bewakoof is one of India’s first D2C brands. Since its inception in 2012, it has managed to raise Rs 160 crore from investors such as Spring Marketing Capital, IvyCap Ventures, and Investcorp. 

Aditya Birla Fashion’s D2C entity TMRW was set up in June with the goal of acquiring and incubating 30 brands within the next three years. This further adds to Aditya Birla Fashion’s new strategy to create a portfolio that encompasses new-age digital brands across fashion, lifestyle, and beauty.

“We are surely going to see a lot more such deals happening in the near future. This also helps early-stage investors get exit opportunities at a time when larger funding rounds look a tad challenging amidst a global economic slowdown,” said Dhianu Das, cofounder, Agility Ventures.