Blackberrys expects revenue of Rs 1,100 crore for FY19
Indian menswear brand Blackberrys is expecting revenue of Rs 1,100 crore ($159.6 million) for the financial year 2018-19 and has planned massive expansion for the next fiscal as it looks to add 50 new stores.
The company clocked sales of Rs 900 crore for the fiscal year 2017-18 and has witnessed a 20 percent jump during the current fiscal on the back of its retail expansion. Blackberry has opened 80 new stores during the current fiscal.
“We have opened more than 80 doors in the year that is going by. For the coming year, while the budgeting exercising is still going on, we are clearly looking at 40-50 more doors. Between the formats, we are available in nearly more than 1,000 outlets,” Ramesh Kaushik, vice president brand experience at Blackberrys, told Exchange4media.
“We have been growing at a CAGR of more than 20 percent. We closed last year with a gross revenue of around Rs 900 crore. We are pretty hopeful that we would be able to close with Rs 1,100 crore this year,” Kaushik added.
Blackberrys has its presence across 350 cities in India and operates more than 260 exclusive brand outlets and 700-plus multi-brand outlets.
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