Blackberrys to enter womenswear segment, open 100 outlets by March 2019
Menswear brand Blackberrys will expand its product portfolio and foray into the womenswear segment in the coming months. The brand is also planning massive expansion across India and will be adding 100 stores before the end of the current financial year.
The company is expecting its sales to jump 60 percent on the back of its retail expansion across India and eyeing revenue of Rs 1,000 crore this fiscal.
“We have been growing at a compounded annual growth rate of about 25 percent per annum and expect to sustain this growth momentum as we expand our footprint through a combination of exclusive stores and store-in-store formats. Last fiscal, we closed with a turnover of Rs 900 crore and we expect to cross Rs 1,000 crore this financial year,” Nitin Mohan, founder, and director of Blackberrys menswear told Businessline.
The company had closed last fiscal with 250 exclusive stores, both company-owned and franchisee formats. It is on course to close this financial year with another 100 stores, of which 60 have already become operational. The company is also mulling addition of womenswear under the Casual range. The plan for womenswear is driven by the huge demand that the segment is witnessing,” he added.
Blackberry’s which owns two brands ‘Urban and Casual’ presently operates 250 brand stores in which 185 are the company operated stores and rest are franchise-operated.
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