India Circus founder Krsnaa Mehta: Slowdown benefitted us, on track to achieve revenue of Rs 300 crore
India Circus by Krsnaa Mehta, a Godrej & Boyce Mfg Co Ltd brand, sees huge potential for growth in the Indian market despite the economic slowdown and remains optimistic about achieving sales revenue of Rs 300 crore ($41.9 million) by the next financial year with its low-cost strategy.
Launched in 2012, India Circus is an online and offline retail brand that offers accessories, home décor, fashion products, among many other products. The company currently generates revenue of Rs 35 crore with online contributing around 65 percent to its overall revenue. It plans to expand its retail presence with the addition of 32 new stores by 2021 and banking on its affordable pricing for future growth in the country.
The brand is also embracing sustainability in a big way to make deeper inroads in this niche category by launching new products under its sustainable brand initiative.
Krsnaa Mehta, founder & executive director at India Circus, talks to FashionNetwork.com about its expansion plans, revenue target, and online partnerships.
FashionNetwork.com: What is the expansion plan for India Circus going forward? The brand had plans to open 40 stores by 2020. Will the slowdown put the brakes on your expansion plans?
Krsnaa Mehta: We will be launching seven more stores in 2020 and 25 stores in 2021. We continue to take the brand to places and platforms to widen our reach. As you would be aware, we are looking at having an omni-channel presence and are working towards the same.
FNW: Has the slowdown affected the brand? The brand had set a revenue target of Rs 300 crore by the next fiscal year. Are you on track to achieve the same?
KM: The slowdown hasn’t really affected us as a brand. On the contrary, the slowdown benefitted us. Our affordable pricing has worked wonders for us and has seen a rise in sales, thus keeping us on track. India Circus generates most of its sales from the online channels.
FNW: Apart from your website, the brand has also partnered with e-commerce firms like Myntra. Tell us a little more about these partnerships and how has the response been so far in terms of sales and brand exposure?
KM: We have been doing well on Myntra. The e-commerce brand and we have been working in synergy to make most of our presence on the platform. Over 65 percent of our current portfolio is available on Myntra and we are also looking at introducing special ranges for marketplaces like Myntra, Amazon, Pepperfry and so on.
FNW: Any plans of entering new segments in the fashion space/expansion of the product portfolio?
KM: We are always introducing something new. There’s a big surprise coming soon. Watch this space for more.
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