HRX plans offline expansion, explore overseas market this year
today Jan 9, 2019
The fashion and lifestyle brand HRX backed by Bollywood actor Hrithik Roshan is planning to expand its offline presence in the country this year coupled with the expansion of its product categories.
The brand is looking to add new categories like eyewear, innerwear, and wearables in the coming months to boost its revenues. It is also exploring international markets for growth and plans to sell overseas this year.
HRX is already a leading player in the country’s athleisure market which is currently valued at Rs 8,500 crore ($1.3 billion), and expected to reach Rs 54,000 crore ($8.1 billion) by 2020.
HRX, which currently sells exclusively on Flipkart’s fashion units Myntra and Jabong, is looking to strengthen its omni-channel presence in the country to tap this billion-dollar market.
“Omni-channel is the way to be and we would be getting into offline soon; the required planning is underway. HRX is exclusive with Myntra and there is no reason for us to explore any other platform - between the Group companies, we have the largest reach in online fashion and potential to tap international markets as well,” Afsar Zaidi, co-founder and CEO of HRX told Indian Retailer.
Sharing his growth plans for the year, Zaidi said, “Grow in the sportswear market in India by being the first and largest home-grown sportswear brand, and launch a couple of new categories that are a core extension to the brand.”
HRX will be opening its first physical outlet in the city of Bengaluru this year which will be followed by stores in Pune, Delhi, and Mumbai.
Copyright © 2019 FashionNetwork.com All rights reserved.