Virat Kohli-backed WROGN faces another tough year with rising losses

Virat Kohli-backed fashion brand WROGN’s parent company has witnessed another challenging year, with revenue declining and losses mounting further.

WROGN’s revenue from operations slipped 9% to Rs 223 crore in FY25 from Rs 245 crore in FY24, according to its annual financial statements filed with the Registrar of Companies. For context, the company had already seen a steep 29% revenue drop in FY24.

Founded in 2014 by the brother-sister duo Anjana and Vikram Reddy, WROGN operates in the lifestyle and fashion space, dealing in apparel, footwear, and accessories. 

Sales of these products remain the firm’s primary source of revenue. The company booked Rs 9 crore as other income from interest on deposits and gains on financial assets, taking its total revenue to Rs 232 crore in FY25, down from Rs 266 crore in FY24.

For the fashion brand, procurement of materials accounted for 40% of the total expenditure, amounting to Rs 126 crore in FY25. Employee benefit expenses rose to Rs 39 crore, while the company also ramped up spending on advertising and promotions, which surged 63% year-on-year despite the revenue dip. Overall, WROGN’s total expenses swelled to Rs 313 crore during FY25.

The increase in employee and marketing spends pushed the company deeper into losses. Net losses rose by 31.6% to Rs 75 crore in FY25, compared to Rs 57 crore in FY24. As of March 2025, the company’s accumulated losses stood at a staggering Rs 709 crore. Key financial ratios also remained under pressure, with ROCE at -70% and EBITDA margin at -27.5% for FY25.

In June 2024, WROGN secured Rs 125 crore (about $15 million) from TMRW House of Brands, part of the Aditya Birla Group, and raised another $9 million in October. With this infusion, the company has raised over $90 million since its inception.

WROGN’s sluggish performance also comes at a time when newer fashion labels like Snitch, Bewakoof, The Pant Project, and Rare Rabbit are rapidly scaling and eating into market share. Unlike WROGN, which has largely relied on Virat Kohli’s brand pull, these online-first challengers are leveraging faster design cycles, sharper pricing, and aggressive social media playbooks to win over Gen Z and millennial shoppers. The rise of these brands underlines how quickly consumer preferences are shifting in the mass-premium fashion segment, leaving older players struggling to keep pace.