Rebranding or lost: Unravelling Virgio’s PR stunt

Pranav Balakrishnan

20 reads

Pranav Balakrishnan

20 reads

Earlier this week, Amar Nagaram hinted that his fast fashion brand Virgio was shutting shop. While Nagaram eventually did a U-turn and tells The CapTable that it was simply a clever publicity stunt, the fact Virgio is “rebranding” 18 months into existence hints at the struggles it has faced so far.

October 13, 2023

5 MINS READ

On October 7, former Myntra CEO Amar Nagaram created a furore online when he posted an image on LinkedIn that indicated that his 1.5-year-old fast fashion startup Virgio had shut shop.

With Virgio valued at around $160 million, having raised over $38 million in funding from blue-chip VC firms such as Accel Partners and Prosus Ventures, and prominent angel investors including Ola co-founder Bhavish Aggarwal and Meesho co-founder Vidit Aatrey, the startup’s apparent demise understandably made headlines.

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