Despite new investments and brand visibility, the Virat Kohli-backed fashion label reports a steeper net loss and its second consecutive year of declining revenue
Revenue Decline Continues for WROGN
WROGN, the D2C fashion brand backed by Virat Kohli, reported a 9% drop in operating revenue, sliding to INR 223.2 Cr in FY25 from INR 245.3 Cr in FY24. This marks the second consecutive year of revenue contraction—FY24 had already seen a steep 29% YoY decline.
- Total income (including other income of INR 9 Cr) fell to INR 232.3 Cr from INR 265.7 Cr in FY24.
- Despite broader product availability across platforms like Myntra, Flipkart, Meesho, and offline channels, sales momentum remained weak.
Net Loss Widens as Expenses Surge
Even as revenue declined, WROGN’s total expenses rose 2% to INR 312.6 Cr, compared to INR 306.4 Cr in FY24. This led to a net loss jump of 32%, pushing losses from INR 56.8 Cr to INR 75.5 Cr.
Key drivers of rising expenses:
- Advertising & Promotions: Jumped 63% YoY to INR 49.2 Cr, highlighting aggressive brand marketing efforts.
- Employee Benefits: Rose 21% to INR 38.9 Cr, reflecting increased hiring or salary adjustments.
- Commissions to Selling Agents: Grew 29% to INR 40 Cr, suggesting higher dependency on third-party sales channels.
Interestingly, the largest cost remained stock-in-trade purchases, totaling INR 123.4 Cr, although this was marginally down from INR 126.7 Cr in FY24.
Stake Acquisition and Long-Term Losses
In FY25, Aditya Birla Digital Fashion acquired a 32.8% stake in WROGN—a notable strategic investment. However, the company’s accumulated losses stood at INR 709 Cr as of March 2025, raising concerns about long-term profitability.
- WROGN has raised over $66.27 Mn from marquee investors like Accel Partners, Alteria Capital, and Flipkart.
- Founders Anjana and Vikram Reddy launched the brand in 2014, positioning it in the casual menswear segment.
Competitive Pressure in D2C Fashion
WROGN operates in a highly competitive D2C fashion space, facing stiff competition from Snitch, Bewakoof, Rare Rabbit, and The Pant Project.
- Peer brand Snitch, for instance, recorded INR 520 Cr in revenue and a healthy INR 30 Cr EBITDA in FY25, highlighting operational efficiency and profitability.
- The contrast underlines WROGN’s need for a strategic turnaround—either through product innovation, cost optimization, or revised channel strategies.
Outlook: Can WROGN Regain Its Footing?
Despite significant brand equity and backing from major investors and celebrities, WROGN’s rising losses, shrinking revenues, and escalating costs suggest an urgent need for recalibration.
With Aditya Birla Digital Fashion’s stake, there may be room for strategic synergies, operational restructuring, and reimagined brand strategy in FY26.
