TMRW is looking to create a portfolio of fashion and lifestyle brands by acquiring and incubating over 30 brands in the next three years
Prashanth Aluru, former Facebook and Bain executive, will be CEO and cofounder of TMRW
By launching TMRW, Aditya Birla is planning to double down on its ongoing program of strategically attracting new pools of capital
Indian conglomerate, Aditya Birla Group has launched its ‘House of Brands’ business – TMRW to roll out and back new-age digital businesses.
TMRW is looking to create a portfolio of fashion and lifestyle brands by acquiring and incubating over 30 brands in the next three years. The format also enables multiple founders to operate within its ‘house of brands’ platform that share a common vision and capabilities, as shared by the company.
Prashanth Aluru, former Facebook and Bain executive, will be the CEO and cofounder of TMRW. He holds a vast experience in digital and technology segments and has built several new-age ventures in this space. He is responsible for setting up a founding team.
Earlier in February, Aditya Birla exhibited its interest in setting up a house of brands platform. Then, the conglomerate said that it would grow native brands digitally and also, invest in a select number of brands.
By launching TMRW, Aditya Birla is planning to double down on its ongoing program of strategically attracting new pools of capital. It expects that the new venture will help meet the expectations of online consumers and also create long-term value for investors as well as stakeholders.
Aluru, CEO of TMRW, said “With the backing of the Aditya Birla Group and the right profile of long-term investors we will bring in, we are confident of powering the growth of several brands that shape the next phase of digital commerce growth till 2030 and beyond.”
TMRW will use the capabilities and networks of Aditya Birla Group and ABFRL to boost emerging D2C brands.
By creating a house of brands platform, Aditya Birla is directly competing with the likes of Mensa Brands, GlobalBees, UpScalio, Good Glam and Evenflow.
The Rise of House of Brands Platforms In India
The D2C market, which is already crowded with several brands and ecommerce players, is witnessing a slew of disruptive business models emerging under the house of brands (HoB).
HoB is essentially the opposite of how native brands work. It acquires or works along with a multitude of native brands and helps them grow digitally. However, homegrown Indian HoBs are amalgamating the concepts of the US-based Thrasio, into their business and similarly, acquiring and scaling FBA (Fulfillment by Amazon) brands.
Despite acting differently than native D2C brands, HoBs are contributing to India’s D2C sector, which is expected to be worth $100 Mn by 2026.
This nascent segment has witnessed a slew of business activities. In March, ecommerce roll-up UpScalio secured $15 Mn from Gulf Islamic Investments, Northern Arc and Unity Bank
In April, D2C brand aggregator GlobalBees was said to be investing in Candes. With this investment, it will be setting foot into the consumer electronics segment.
In February, Mensa Brands participated in a $10 Mn funding round of RENEE Cosmetics. A month prior to this, it acquired a majority stake in Trustbaske.