HRX expects revenue of Rs 300 crore this fiscal, plans to enter new categories for growth
The fashion and lifestyle brand HRX backed by Bollywood actor Hrithik Roshan will be entering new categories for growth and expects revenue of Rs 300 crore ($43.4 million) for the fiscal year 2019.
HRX also plans to strengthen its international network this year and will be entering new markets in the Middle East.
HRX, which currently sells exclusively on Flipkart’s fashion units Myntra and Jabong, is also looking to strengthen its omni-channel presence to make deeper inroads in the country’s athleisure market which is currently valued at Rs 8,500 crore ($1.3 billion).
“In 2013, Myntra was our first licensee in the fashion category. Within two years convinced by the potential that the brand showcased and the upswing that the fitness industry witnessed, they converted into becoming investors and our JV partners for HRX apparel and footwear categories. This year we are anticipating a turnover of Rs 300 crore,” Afsar Zaidi, co-founder and CEO at HRX told Exchange4media.
“We are foraying into new categories that include Innerwear, kid’s apparel, wearable tech, watches and also venturing into new markets like Dubai through Cult,” he added.
HRX will be opening its first physical outlet in the city of Bengaluru later this year which will be followed by stores in Pune, Delhi, and Mumbai.
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