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Virat Kohli-backed fashion brand WROGN has reported a steep net loss of Rs 76 crore for the financial year 2025, continuing a troubling trend of declining sales and
Virat Kohli-backed fashion brand WROGN has reported a steep net loss of Rs 76 crore for the financial year 2025, continuing a troubling trend of declining sales and rising expenses. According to the company’s filings with the Registrar of Companies, WROGN’s net loss widened by 32 percent from Rs 56.8 crore in FY24. This marks the second consecutive year of financial contraction for the men’s fashion brand, raising questions about its long-term growth strategy and sustainability.
WROGN’s revenue from operations fell by 9 percent to Rs 223.2 crore in FY25, down from Rs 245.3 crore in FY24. The decline follows a sharper 29 percent drop in sales recorded in FY24. Including Rs 9 crore from other income, which comprises interest on deposits and gains on financial assets, the company’s total income for FY25 stood at Rs 232.3 crore, a decline from Rs 265.7 crore in the previous year.
Industry analysts note that this persistent slowdown in revenue highlights the intense competition in India’s direct-to-consumer (D2C) fashion segment, where brands are vying for market share across online and offline channels.
Founded in 2014 by entrepreneurs Anjana and Vikram Reddy, WROGN specializes in casual wear, footwear, and accessories for men. The brand sells its products through its own e-commerce platform, marketplaces such as Myntra, Flipkart, and Meesho, and through offline retail stores. WROGN competes with other notable D2C brands such as Snitch, Bewakoof, The Pant Project, and Rare Rabbit.
Despite its strong celebrity backing from cricketer Virat Kohli and a high-profile investor base, the brand has struggled to maintain consistent revenue growth amid increasing competition and evolving consumer preferences.
While revenue has declined, WROGN’s total expenses increased by 2 percent to Rs 312.6 crore in FY25 from Rs 306.4 crore in FY24. Procurement of goods remained the largest expense, though it fell slightly to Rs 123.4 crore from Rs 126.7 crore the previous year.
Other operational costs, however, saw significant increases. Employee benefit expenses jumped 21 percent to Rs 38.9 crore, reflecting investment in human resources to support expansion and operations. Marketing and promotional spending surged 63 percent to Rs 49.2 crore, as WROGN sought to strengthen its brand visibility in a competitive market. Commissions paid to selling agents also rose by 29 percent, reaching Rs 40 crore.
These rising costs have put additional pressure on the company’s financial ratios, exacerbating the challenges posed by declining revenues. Analysts suggest that while marketing and talent investment are essential for brand growth, the steep increases amid falling sales may indicate a misalignment between spending and returns.
As of March 2025, WROGN’s accumulated losses had mounted to Rs 709 crore. Since its inception, the company has raised over $90 million from investors, including prominent names such as the Aditya Birla Group, Accel Partners, Flipkart, and Alteria Capital.
In June 2024, WROGN received Rs 125 crore (approximately $15 million) from Aditya Birla’s TMRW House of Brands, followed by another $9 million in October. These investments were aimed at strengthening the company’s operations, expanding its product portfolio, and increasing its market presence. Despite these inflows, the brand continues to face financial headwinds, raising concerns about the pace of its path to profitability.
The decline in WROGN’s revenue reflects broader challenges facing India’s D2C fashion sector. The market has become increasingly crowded, with a surge of new brands offering affordable and trendy apparel. Consumer behavior has also shifted, with a growing emphasis on value, discounts, and online shopping convenience, making it harder for established brands to maintain their pricing power and customer loyalty.
Additionally, supply chain disruptions and rising input costs have increased operational expenses for many fashion brands. For WROGN, managing inventory, logistics, and production costs amid fluctuating demand has proven to be a key challenge.
WROGN’s management has emphasized the need to focus on brand differentiation, product innovation, and targeted marketing to regain momentum. The company aims to leverage its celebrity association with Virat Kohli and strengthen its presence in both online marketplaces and offline retail channels.
Industry experts suggest that WROGN will need to balance its spending carefully, ensuring that marketing and operational investments translate into measurable growth in sales. Expanding into new product lines, enhancing digital engagement, and optimizing supply chain efficiency could be critical steps to improve profitability.
WROGN’s FY25 financial results highlight the challenges of sustaining growth in a competitive and evolving fashion market. With a net loss of Rs 76 crore and declining revenue for the second consecutive year, the brand faces pressure to streamline operations, enhance customer engagement, and leverage its celebrity backing effectively.
While the brand has successfully attracted high-profile investors and remains popular among young consumers, its path to profitability will depend on strategic spending, operational efficiency, and the ability to differentiate itself in a crowded D2C fashion market.
For investors and industry watchers, WROGN’s journey underscores the complexities of building a scalable fashion brand in India, where consumer preferences shift rapidly and operational costs continue to rise. The coming years will be crucial in determining whether WROGN can convert its strong market presence and celebrity association into sustainable financial performance.
