Move over Athleisure, welcome to Fashleisure!
These are not just jargons, rather new market segments being created by corporates, even as the market is shifting from the boring casual wear to niche and contemporary wear.
NOBERO is one such brand from TMRW House of Brands by the eponymous Aditya Birla Group.
The brand is scaling up to compete with other prominent fast-fashion and casualwear players such as Bewakoof, The Souled Store, and international athleisure baselines.
Karthik Venkat, on his Linkedin page said, “3 out of 7 stores are doing 80+ sspd (sales per square foot per day, industry avg would be ~30-35).
This is a remarkable metric, given that the brand operates in a niche space and there are hundreds of local lookalikes in the general segment.
The brand has rapidly expanded its physical footprint to 10 stores across India, with recent high-profile launches in major commercial hubs like Odeon Mall, Hyderabad, Pacific Mall Jasola in New Delhi, and Ansa City Centre, Ghaziabad.
45% of the consumers who are walking in are brand aware and recalls engaging with the brand according to Karthik.
Editor’s Note
Launched in 2014 by Karthik Venkat, Bala Sathish Gurlinka and Rakhee Rakesh Agarwal, NOBERO was later acquired by Aditya Birla’s TMRW in November 2024.
Originally founded as “My Dream Store” in Hyderabad, the founders operated in the customized B2B apparel space and custom merchandise ecosystem until 2021.
Post Covid, due to work from home situations and a fascination for athleisure, the brand created a mark in the market, followed by its acquisition.
At the time of its acquisition, Nobero was a relatively lean, online-first operation pulling in an annual revenue of roughly INR 12 crore (for FY22).
TMRW acquired a 66% controlling stake in the brand, valuing NOBERO back than at INR 20 Cr.
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