Blackberrys eyes 20% revenue growth, to open 50 stores in next fiscal
Indian menswear brand Blackberrys is looking to accelerate its retail presence and sales growth in the coming year eyeing 20 percent revenue growth.
Blackberrys will expand its retail footprint across Indian with the addition of 50 new stores before the end of the current fiscal and has earmarked an investment of Rs 55 crore (approx $8 million) on marketing to enhance the visibility of the brand.
The company had clocked sales of Rs 900 crore for the fiscal year 2017-18 and is expecting a 20 percent jump during the current fiscal on the back of its retail expansion.
Sharing his thoughts on plans for 2019, Nikhil Mohan, founder director at Blackberrys, in a statement said, “The new development model implemented across, has paved the way for increased value creation along with profitable, sustained and consistent organic growth. We are expecting an accelerated growth in the coming years with a strong focus on developing newer wardrobe propositions and our retail presence across the country.”
Blackberrys is currently present across 350 cities in India and operates more than 260 exclusive brand outlets and 700-plus multi-brand outlets.
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