IndiaShoppe eyes Rs 1,500 crore revenue in FY23
IndiaShoppe expects to achieve a revenue total of Rs 1,500 crore by the end of the 2023 financial year. The beauty, lifestyle, and wellness retailer plans to continue to open new stores and reach non-metro markets.
One reason for increasing sales is an increased consumer adoption of Ayurvedic products, which the business focuses on. This trend has directly boosted sales, IndiaShoppe’s co-founder and CFO Mitesh Bhandari told ET Retail.
The business is also driving growth by expanding both its stores and pick-up centres across India, with a current focus on smaller cities where demand for Ayurvedic beauty and wellness products is increasing, according to Bhandari. IndiaShoppe will also set up more distribution centres and invest in augmenting its technology. The business is also eyeing expanding beyond the borders of India, into its neighbouring countries.
IndiaShoppe, which retails products in categories including beauty, lifestyle, agriculture, health, and wellness, plans to continue to expand its fast moving consumer goods product offering. Upcoming product launches will include a sanitary pad range, head balm, shoe shiner, and mouthwash.
The business reported a revenue total of Rs 1,200 crore in the 2022 financial year. This figure represents 22% revenue growth compared to its total for the pre-pandemic 2020 financial year, according to the business.
Copyright © 2023 FashionNetwork.com All rights reserved.