Naaptol goes offline with first store in Kerala, to add 4 more by March

Home shopping and online firm Naaptol has forayed into the offline market with the opening of its first physical outlet in the southern city of Thrissur in Kerala.
 
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The Mumbai based firm is planning to further expand its offline presence with the addition of 4 more stores before the current financial year which ends in March. The company has identified business hubs like Indore, Hyderabad, Ahmedabad and Jaipur for its next 4 stores from which it receives maximum traction.
 
In the year 2018, the company plans to expand its base to 100 stores and earmarked revenue of Rs 10 lac per store with a total investment of Rs 10 crore (approx $ 1.6 million).
 
“We have been getting a lot more demand than what we can serve just on the television medium, so spreading offline made sense. We will look at how trends evolve through our 5 stores by March and then plan the rollout for the next leg of our offline expansion,” Manu Agarwal, founder and chief executive of Naaptol was quoted as saying by the Economic Times.
 
“In the next 3-4 years, we are looking at about 500 stores and at that point, the offline channel will accrue what we currently earn - monthly revenues of about Rs 200 crore,” Agarwal added.
 
Naaptol has posted sales revenue of Rs 630 crore (approx $ 98 million) for the financial year 2016-17. The company with its offline entry and wider customer base eyes Rs 720 crore (approx $ 112 million) for the current fiscal 2017-18.

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