The Indian Garage Co

The Indian Garage Co. (TIGC) is a digitally native fast-fashion brand revolutionizing affordable, trend-driven apparel for India’s Gen Z and millennials. Operating in the $50B+ Indian fashion market, TIGC serves 5 lakh+ monthly customers across 50+ cities, blending global aesthetics with Indian sensibilities.

Core Products & Services

• TIGC (Men’s Casual Wear): Bestsellers are ₹799 graphic tees, ₹1,499 joggers.

• FreeHand (Women’s Wear): ₹999–₹1,999 kurtas and co-ords targeting working professionals.

• HardSoda (Plus Size): Sizes up to 4XL, priced 20% below competitors.

• Rare Ones (Kids’ Line): Launching in Q4 2024 with school and party wear.

Unique Value Proposition

• Speed-to-Market: 3,000+ SKUs refreshed monthly, 30% faster than competitors like Bewakoof.

• Vertical Integration: In-house design, manufacturing (via parent Radhamani Textiles) and distribution, enabling 55–60% gross margins.

• Omnichannel Agility: 95% online sales via marketplaces (2023) + 15+ offline stores (2025).

Key Milestones

• 2013: Pivoted to e-commerce, becoming a top-5 brand on Myntra and Ajio.

• 2023: Raised ₹155 crore from Aditya Birla Group’s TMRW

• FY23: Achieved ₹300 crore revenue, growing 6X since 2019.

Business Model & Revenue Streams

• Online Marketplace Sales (85% of FY23 revenue): Platforms: Myntra (40%), Ajio (30%), Flipkart/Amazon (15%), and proprietary D2C site (10%). Average Order Value: ₹1,200–₹1,500.

• Offline Retail (15% by 2025 target): Revenue from 15+ experience centers in malls like Lulu and Forum.

• Private Label Partnerships (Emerging): White-label collaborations with regional retailers.

Customer Segmentation

• B2C (95%): Urban youth (18–35 years) earning ₹5–15 lakh annually.

• B2B (5%): Bulk orders for corporate gifting and event merchandising.

Top Clients & Partnerships

Strategic Partners:

• TMRW (Aditya Birla Group): ₹155 crore investment (2023) for omnichannel scaling.

• Myntra: Top sales channel, contributing 40% of online revenue.

• Ajio: Exclusive collections for Reliance’s platform.

• Lulu Mall: Flagship stores in Kochi, Hyderabad and Bangalore.

Future Outlook & Strategic Priorities

1. Growth Drivers:

• Offline Expansion: 100+ stores by 2026, focusing on Tier 2/3 cities.

• Global Foray: GCC market entry via Dubai franchise in 2025.

• Tech Integration: AI-driven demand forecasting to reduce deadstock by 25%.

2. Risks:

• Competition: Price wars with Reliance’s Ajio and Tata Cliq.

• Commodity Volatility: 20% EBITDA sensitivity to cotton prices.