Latin Quarters to open six new stores this fiscal
Latin Quarters plans to open six new stores by March, 2023. The women’s western wear brand is continuing to expand its exclusive brand outlets across India and has surpassed its pre-pandemic revenue figures.
The brand currently had 19 exclusive brand outlets as well as a presence across numerous large-scale, multi-brand retailers such as Pantaloons and Shoppers Stop among others.
“This year, we should be up by about 20% on pre-Covid numbers, in terms of total revenue as well as profitability and the point of sales across everything,” Latin Quarters’ co-founder and CEO Rahul Bhalla told Business Insider. “We're getting a lot of traction from smaller cities. We have six more of our EBOs opening up.”
Seeing strong sales in non-metro locations, which also enjoy lower rents for businesses, the brand is eyeing locations including Indore and Amritsar for its upcoming store launches. High rents in Mumbai and Delhi have made the metros less appealing to Latin Quarters but Kolkata, Hyderabad, Pune, and Bengaluru continue to contribute to the brand’s growth.
Despite a return to pre-pandemic revenue levels, the brand’s festive season was more muted than some other brands due to its focus on western wear and lack of ethnic wear in its portfolio. This does mean, however, that the Christmas festive and subsequent sale season is expected to bring strong sales for the label. “Winter wear and Christmas is basically our Diwali,” said Bhalla.
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