D2C fashion brand Bewakoof has undergone a leadership transition as founder and CEO Prabhkiran Singh announced his decision to step down from his position after nearly 14 years. The move comes following Bewakoof’s acquisition by Aditya Birla Fashion and Retail Ltd’s TMRW in February 2023. Singh’s departure, aimed at focusing on personal goals like health and family, marks a significant shift for the brand.
Founded as a D2C startup, Bewakoof has evolved to encompass both online and offline retail channels. Singh’s upcoming exit, scheduled for the end of March, underscores the brand’s readiness for a new phase, supported by a robust leadership team and the backing of TMRW and the Aditya Birla Group.
Bewakoof caters to millennial and Gen Z consumers with a range of products, including clothing, accessories, notebooks, and backpacks. The brand’s D2C platform has amassed over 10 million users on its mobile app, reflecting its growing popularity and market presence.
In late 2022, ABFRL’s TMRW acquired a majority stake in Bewakoof for ₹200 Cr, with the transaction completed in February 2023. This strategic move aimed to leverage TMRW’s resources for scaling Bewakoof’s operations and expanding its offline footprint, aligning with TMRW’s broader portfolio strategy targeting digital-first fashion and lifestyle brands.
As TMRW continues to strengthen its position in the market, the recent revenue growth and operational performance signal a positive trajectory for the conglomerate’s investments in D2C ventures.
Source: Inc42 Media