Virgio

Last updated
Virgio
Company typePrivate
IndustryFashion technology
Founded2022 (2022)
FounderAmar Nagaram
HeadquartersBengaluru, Karnataka, India
Key people
Amar Nagaram (Founder & CEO)
Website www.virgio.com

Virgio is an Indian fashion technology company founded in 2022 by Amar Nagaram, former CEO of Myntra. The company initially operated as a fast fashion brand before shifting its focus to sustainable and circular fashion models in 2023. [1] Virgio operates primarily online, targeting Generation Z and millennial consumers, with offices in India and the United Arab Emirates. [2]

Contents

History

Virgio was founded in early 2022 by Amar Nagaram following his departure as CEO of Myntra in 2021. [3] Nagaram had previously held executive roles at Flipkart and Myntra. [4] The company launched as a direct-to-consumer fast fashion e-commerce platform focusing on women's apparel. [4] In December 2022, Virgio raised US$37 million in a Series A funding round led by Prosus Ventures, Accel, and Alpha Wave Global. [5] [1] The funding was intended to support team expansion and technology development, and valued the company at approximately US$160 million. [6]

In October 2023, the company announced a strategic transition towards sustainable and circular fashion. [7] This included a shift toward using more natural fabrics and reducing reliance on synthetic materials, as well as incorporating recycling and upcycling practices into its operations. [8] As part of this transition, Virgio reportedly returned a portion of its previously raised capital to investors. [9]

In 2024, Virgio received PETA Approved Vegan certification [10] and was recognized as the Company of the Year at the PETA India Vegan Fashion Awards for its adoption of animal-free materials and sustainable practices. [11]

The company expanded into offline retail in September 2024 through a partnership with Broadway, launching a retail presence at Ambience Mall in Vasant Kunj, New Delhi. [12] In December 2024, Virgio opened its first standalone store in Bangalore. [13]

In March 2025, Virgio became the sustainable fashion partner for the International Indian Film Academy's (IIFA) 25th-anniversary celebrations in Jaipur. [14] The following month, the company announced a collaboration with Dr. Mahra Lutfi (Miss UAE and Miss Planet International) as its sustainability ambassador. [10] [15]

Recognition

See also

References

  1. 1 2 "Ex-Myntra CEO's start-up Virgio to pivot after raising $37 million". BusinessLine. 2023-10-09. Retrieved 2025-06-18.
  2. ↑ Singh, Manish (2022-12-16). "Former Myntra chief's fashion startup Virgio valued at $161 million in new funding". TechCrunch. Retrieved 2025-06-18.
  3. ↑ Nandy, Madhurima (22 October 2021). "Myntra CEO Amar Nagaram steps down". VCCircle. Retrieved 2025-06-18.
  4. 1 2 Goel, Pallavi. "Virgio eyes house of brands strategy; plans offline foray - ET Retail". ETRetail.com. Retrieved 2025-06-18.
  5. ↑ Ahmad, Samreen (16 December 2022). "Tech in Asia - Connecting Asia's startup ecosystem". Tech in Asia. Retrieved 2025-06-18.
  6. ↑ "Virgio shuts fast fashion business, goes for a pivot after raising $37 million". The Economic Times. 2023-10-09. ISSN   0013-0389 . Retrieved 2025-06-18.
  7. ↑ "Fashion-tech start up Virgio aims to evolve into a circular fashion brand". MediaBrief. 2023-10-09. Retrieved 2025-06-18.
  8. ↑ Indulge, Team (2025-01-13). "Virgio unveils first-ever mocha mousse collection, embracing Pantone's 2025 colour". Indulgexpress. Retrieved 2025-06-18.
  9. ↑ Mishra, Digbijay (2024-03-11). "Fashion startups Fashinza, Virgio to return investor capital after failed pivots". The Economic Times. ISSN   0013-0389 . Retrieved 2025-06-18.
  10. 1 2 "Virgio Announces Collaboration with 'Miss UAE' Dr. Mahra Lutfi to Drive Sustainable Fashion Movement". Entrepreneur magazine. April 23, 2025. Retrieved 2025-06-18.
  11. 1 2 Crossley, Isabelle (2024-11-13). "Virgio wins PETA India's 2024 Vegan Fashion Award for 'Company of the Year'". FashionNetwork.com. Retrieved 2025-06-18.
  12. ↑ Crossley, Isabelle (2024-09-23). "Virgio partners with Broadway for offline debut in New Delhi". FashionNetwork.com. Retrieved 2025-06-18.
  13. ↑ Martins, Maverick (2024-12-20). "Virgio expands presence with store in Bangalore". FashionNetwork.com. Retrieved 2025-06-18.
  14. ↑ Crossley, Isabelle (2025-03-19). "Virgio collaborates with IIFA to promote sustainable fashion". FashionNetwork.com. Retrieved 2025-06-18.
  15. ↑ Khan, Jamil (2025-04-19). "Miss UAE launches 'sustainable fashion movement'". gulftoday. Retrieved 2025-06-18.
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