WROGN Performance: Fashion Brand Struggles in Competitive Market

WROGN, a fashion brand endorsed by Virat Kohli, is facing significant challenges as its parent company experiences reduced revenues and escalating losses. WROGN’s revenue from operations fell by 9% to Rs 223 crore in FY25, down from Rs 245 crore in FY24, as reported in its annual financial documents submitted to the Registrar of Companies. This decline follows a substantial 29% revenue decrease in FY24.

Company Overview and Revenue Details

Established in 2014 by Anjana and Vikram Reddy, WROGN is engaged in the lifestyle and fashion sector, offering a diverse range of apparel, footwear, and accessories. These products remain the backbone of the company’s revenue. Additionally, the company generated Rs 9 crore in other income from interest on deposits and gains from financial assets, bringing its total revenue to Rs 232 crore in FY25, a drop from Rs 266 crore in FY24.

Expenditure and Losses

For WROGN, material procurement represented 40% of total expenses, which amounted to Rs 126 crore in FY25. Employee benefit costs increased to Rs 39 crore, while spending on advertising and promotions surged by 63% year-on-year, despite the revenue downturn. Consequently, WROGN’s total expenses climbed to Rs 313 crore during FY25.

The rise in employee and marketing expenses has contributed to the company’s financial struggles. Net losses escalated by 31.6% to Rs 75 crore in FY25, compared to Rs 57 crore in FY24. As of March 2025, WROGN’s accumulated losses totalled a staggering Rs 709 crore. Key financial metrics have also been under strain, with ROCE at -70% and an EBITDA margin of -27.5% for FY25.

Funding and Competition

In June 2024, WROGN secured Rs 125 crore (approximately $15 million) from TMRW House of Brands, part of the Aditya Birla Group, and raised an additional $9 million in October. This funding effort has helped the company raise over $90 million since its inception.

WROGN’s underwhelming performance occurs at a time when emerging fashion brands like Snitch, Bewakoof, The Pant Project, and Rare Rabbit are swiftly capturing market share. Unlike WROGN, which heavily relies on Virat Kohli’s celebrity endorsement, these new online challengers are utilising quick design cycles, competitive pricing, and assertive social media strategies to attract Gen Z and millennial consumers. The emergence of these brands highlights the rapidly changing consumer preferences in the mass-premium fashion sector, leaving established companies struggling to adapt.