07 April 2023, Mumbai
Aditya Birla Group's fashion and lifestyle venture, TMRW, is set to offer stock options to its top executives as part of its efforts to retain and attract senior talent.
The direct-to-consumer platform, founded by Aryaman Vikram Birla, is also planning to recruit senior executives from startups and consumer firms. The move is aimed at driving aggressive growth and creating a 'House of Brands' by investing in online-born brands that draw a large part of their sales through the internet.
The move comes after rival Tata Digital announced similar efforts to attract senior talent with long-term incentives, including stock options. TMRW has also been on an acquisition spree, acquiring a controlling stake in Bewakoof Brands and infusing ₹200 crores to fuel the growth of the D2C brand.
Within a year of launch, TMRW owns eight brands, including Berrylush, Bewakoof, Juneberry, Natilene, Nauti Nati, Nobero, Urbano, and Veirdo.
TMRW's equity plan was designed with the help of senior Aditya Birla executives who met with industry experts for six to eight months.
The company aims to create the largest portfolio of disruptor brands in fashion and lifestyle and be part of India's D2C growth story, estimated to be at $100 billion by 2025.
TMRW plans to acquire and incubate 30-plus innovative, customer-obsessed brands.
