Khadim to open 70 to 80 stores, predicts Rs 800 crore revenue this fiscal

By

Isabelle Crossley

Published
Aug 26, 2022

Footwear brand Khadim aims to expand its brick-and-mortar retail presence beyond Tier 2 and 3 cities and open between 70 and 80 new stores. The brand is also eyeing Rs 800 crore in revenue in the 2023 financial year. 

Khadim has set a growth target of 30% for the current financial year with the tandem aim of improving its margin by 100 basis points, ET Bureau reported. Khadim, which is India’s second largest retail footwear brand, aims to drive growth by opening stores and by focusing on more premium products. 
 
“With the revival in demand and premiumisation, we expect to achieve Rs 800 crore turnover in FY23,” said Khadim’s CEO Namrata Chotrani, the Press Trust of India reported. “We had an income of Rs y00 crore for the year ended March 2022. Our average selling price in pre-Covid time was Rs 495 a pair and that has now improved to Rs 600.”

One reason for elevated prices is that Khadim passed on its increased costs to the consumer including increased goods and service tax rates. GST on footwear increased from 5% to 12% earlier in the year. The brand’s gross margin has improved by 54% as per figures for the June quarter, according to Chotrani.