Flipkart invests in Wrogn-owner USPL to boost fashion portfolio

Flipkart Group is set to buy a stake in Universal Sportsbiz Pvt. Ltd (USPL), which owns youth fashion brands Ms.Taken, Wrogn and Single, as it seeks to expand its fashion portfolio.

Venture capital firm Accel, too, invested in USPL’s Series F round, as it looks to step up its online strategy with the Flipkart Group and deepen its product offerings.

This is Flipkart’s third major investment in an offline fashion retailer this year. In July, it had invested ₹1,500 crore in Aditya Birla Fashion and Retail Ltd to pick up a 7.8% stake, and ₹260 crore to acquire a stake in Arvind Youth Brands, the owner of Flying Machine.