Virgio
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| Company type | Private |
|---|---|
| Industry | Fashion technology |
| Founded | 2022 |
| Founder | Amar Nagaram |
| Headquarters | Bengaluru, Karnataka, India |
Key people | Amar Nagaram (Founder & CEO) |
| Website | www |
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]
History
[edit]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
[edit]- 2024: PETA India Vegan Fashion Awards - Company of the Year[11]
See also
[edit]References
[edit]- ^ a b "Ex-Myntra CEO's start-up Virgio to pivot after raising $37 million". BusinessLine. 2023-10-09. Retrieved 2025-06-18.
- ^ Singh, Manish (2022-12-16). "Former Myntra chief's fashion startup Virgio valued at $161 million in new funding". TechCrunch. Retrieved 2025-06-18.
- ^ Nandy, Madhurima (22 October 2021). "Myntra CEO Amar Nagaram steps down". VCCircle. Retrieved 2025-06-18.
- ^ a b Goel, Pallavi. "Virgio eyes house of brands strategy; plans offline foray - ET Retail". ETRetail.com. Retrieved 2025-06-18.
- ^ Ahmad, Samreen (16 December 2022). "Tech in Asia - Connecting Asia's startup ecosystem". Tech in Asia. Retrieved 2025-06-18.
- ^ "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.
- ^ "Fashion-tech start up Virgio aims to evolve into a circular fashion brand". MediaBrief. 2023-10-09. Retrieved 2025-06-18.
- ^ Indulge, Team (2025-01-13). "Virgio unveils first-ever mocha mousse collection, embracing Pantone's 2025 colour". Indulgexpress. Retrieved 2025-06-18.
- ^ 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.
- ^ a b "Virgio Announces Collaboration with 'Miss UAE' Dr. Mahra Lutfi to Drive Sustainable Fashion Movement". Entrepreneur magazine. April 23, 2025. Retrieved 2025-06-18.
- ^ a b 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.
- ^ Crossley, Isabelle (2024-09-23). "Virgio partners with Broadway for offline debut in New Delhi". FashionNetwork.com. Retrieved 2025-06-18.
- ^ Martins, Maverick (2024-12-20). "Virgio expands presence with store in Bangalore". FashionNetwork.com. Retrieved 2025-06-18.
- ^ Crossley, Isabelle (2025-03-19). "Virgio collaborates with IIFA to promote sustainable fashion". FashionNetwork.com. Retrieved 2025-06-18.
- ^ Khan, Jamil (2025-04-19). "Miss UAE launches 'sustainable fashion movement'". gulftoday. Retrieved 2025-06-18.