Brand Concepts Ltd Q4 net profit rises to Rs 2 crore
Brand Concepts Limited witnessed a 147 percent jump in net profit to Rs 2 crore ($2,42,234) for the fourth quarter ended March 2023, as against Rs 80 lacs in the year-ago period.
The company’s sales for the quarter rose to Rs 42 crore, as against Rs 27 crore in the same period last fiscal year.
Commenting on the results, Abhinav Kumar, CEO of Brand Concepts in a statement said, “FY23 was a significant year for our growth as an organisation. We strongly left behind the covid phase, which we used to become leaner and financially more prudent. During the year we also signed an additional heavy weight brand (United Colours of Benetton) and a lightweight brand (Aeropostale) in our focus categories."
“We breached revenue threshold of Rs 150 crore during the year, closing at Rs 163 crore and are aiming to grow at 30 percent CAGR for the next 3-5 years supported by growth in our existing as well as new brands. We aim to become an Rs 500 crore plus revenue company in the next 4 years and be known as a fashion house in our focus categories,” he added.
Brand Concepts Ltd is an omnichannel is fashion and lifestyle retailer with licenses for brands like Tommy Hilfiger, Aeropostale, and United Colors of Benetton. Its private label brands include Sugarush and The Vertical.
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