Royal Challengers Bangalore captain Virat Kohli’s owned company Wrogn has got Flipkart as investor. Walmart owned Flipkart will be investing an undisclosed amount in Bengaluru-based fashion startup Universal Sportsbiz Private Limited (USPL) which also owns Wrogn.
Other than Kohli company is also backed by Sachin Tendulkar. The fashion startup USPL was founded by Anjana Reddy in 2012. The USPL’s portfolio of brands includes WROGN, a men’s casual wear brand inspired by Team India Captain Virat Kohli. While Imara is a contemporary women’s ethnic fashion brand and Ms Taken is a signature women’s western wearline.
It is a Series F funding for USPL from the Flipkart Group which saw participation from existing investor Accel Partners.
With his investment, the Flipkart Group plans to work closely with the USPL team to deepen product offerings on its platforms.
The company, however, did not reveal financial details for this deal.
This is a Series F funding for Universal Sportsbiz from Walmart-owned Flipkart, which also saw participation from existing investor Accel Partners, the company said. Universal Sportsbiz’s apparels are also available at over 750 offline retail outlets, and the company has been growing at 40-50% year-on-year, Flipkart claimed.
Flipkart said that Wrogn is one of the highest selling apparel brands on Myntra, Flipkart’s dedicated apparel e-commerce portal. “Post pandemic recovery has been great for us and we are at ~80% of pre-COVID sales,” Anjana Reddy, founder and CEO of Universal Sportsbiz said in a statement.
Flipkart has been on a spending spree lately. The investment into Universal Sportsbiz comes just weeks after Flipkart invested ₹1,500 crore for a 7.8% share in Aditya Birla Fashion and Retail, to sell its apparel brands — Allen Solly, Peter England etc. — on its platform. The company is likely working to strengthen its fashion offerings, an area where it arguably has an edge over rival Amazon.