Aditya Birla Group's fashion and lifestyle venture TMRW House of Brands has acquired a 16% stake in Universal Sportsbiz Private Limited (USPL), which operates Virat Kohli and Accel-backed youth fashion brand WROGN, for INR 125 Cr (about $15 Mn) in an all-cash deal.

Aditya Birla Fashion and Retail said in an exchange filing that the minority investment comes with an option for a majority stake acquisition later in USPL.

TMRW said the fresh capital will help WROGN strengthen its presence on fashion platforms such as Myntra, expand its offline footprint and scale up its direct-to-customer (D2C) business. WROGN is targeting sales worth INR 1,500 Cr in the next five years.