Bombay Dyeing to open 100 stores, eyes Rs 500 crore revenue by 2020

By

Maverick Martins

Published
Jul 10, 2018

Bombay Dyeing, the textile arm of the Wadia group will be expanding across India with 100 franchise stores as the company is eyeing revenue of Rs 500 crore (approx $73 million) by 2020.
 

Bombay Dyeing had earlier announced it will launch a menswear brand called Cezari in the month of August and new stores will be housing the brand along with the company’s home textile products. To further boost growth, the company has also expanded its portfolio with the addition of 18 new collections.
 
Bombay Dyeing has been witnessing strong growth in tier 2, tier 3 cities as most of its online sales come from these markets, which is why the company will open most of its new stores in these cities.

“We are planning to add another 100 franchise stores in Tier II and Tier III towns. We have seen from e-commerce our responses have been very good from Tier II and Tier III towns. The places have been identified and we are waiting for few approvals then we will be rolling them out,” Bombay Dyeing’s CEO, Aloke Banerjee told Moneycontrol.
 
“We aim to be on MRP value terms at Rs 1,000 crore by 2020. Our revenues are 40-50 percent less than that. So we will be at around 500 crores by 2020,” Banerjee added.
 
Bombay Dyeing currently has 27 company-owned stores, 3000 multi-brand stores and over 400 franchise stores across India besides all the major e-commerce platforms.