Parent Aditya Birla Fashion and Retail said that TMRW marginally trimmed its EBITDA loss to INR 38 Cr in Q2 FY25 from INR 39 Cr in Q2 FY24
Overall, Aditya Birla Fashion and Retail reported a more than 30% YoY growth in ecommerce sales in Q2 FY25
In H1 FY25, TMRW’s revenues jumped 101% YoY to INR 318 Cr compared to INR 158 Cr in the year-ago period
Aditya Birla Group’s house of brands TMRW saw its revenue more than double (105% to be precise) to INR 175 Cr in the second quarter (Q2) of the fiscal year 2024-25 (FY25) as against INR 85 Cr in the year-ago period.
In the first half (H1) of the fiscal under review, TMRW’s revenues jumped 101% year-on-year (YoY) to INR 318 Cr compared to INR 158 Cr in H1 FY24.
In a filing with the BSE, parent Aditya Birla Fashion and Retail also said that TMRW marginally trimmed its earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss to INR 38 Cr in the quarter under review from INR 39 Cr in Q2 FY24.
However, negative EBITDA margin improved significantly to 21.8% in the quarter ended September 2024 from 45.3% during the corresponding period last fiscal year.
Meanwhile, on the operational front, parent Aditya Birla Fashion and Retail reported a more than 30% YoY growth in overall ecommerce sales in Q2 FY25. However, it did not disclose the quantum of the sales.
Promoted by the Aditya Birla Group, TMRW is a house of brands that was established in June 2022. At the outset, the company said that it would build a portfolio of 30 fashion and lifestyle brands by 2025 either through acquisitions or incubating the brands.
Since then, the company has rapidly scaled up operations and acquired stakes in multiple D2C brands. In 2022, it acquired shareholding in D2C startups like Berrylush, Bewakoof, Juneberry, Natilene, Nauti Nati, Nobero, Urbano and Veirdo.
Thereafter, in 2023, the house of brands pumped INR 155 Cr in D2C brand The Indian Garage Co (TIGC). In 2024 so far, it has increased its shareholding to more than 32% in the Virat Kohli-backed fashion brand WROGN through at least two funding rounds.
TMRW operates in the burgeoning Indian D2C apparel market, which has made rapid strides in the past few years on the back of rising internet and smartphone penetration. This has spawned the rise of more than 200 fashion ecommerce startups in the country that collectively raised more than $2.2 Bn between 2018 and 2023.
As per an Inc42 report, the homegrown fashion ecommerce space is projected to grow a size of $112 Bn by 2030.
