Lingerie brand Clovia to expand offline presence, add 15 exclusive stores in 3 years

By

Maverick Martins

Published
Oct 12, 2017

Indian lingerie brand Clovia is looking to expand its offline presence across the country and plans to add 15 exclusive stores in metros & tier II, III cities over the next three years, said a top company official.

The company currently generated around 15% of its revenue from offline channels and expects the revenue to witness a 50% growth in the current financial year. It gets over 55 percent of its total online sales through its own website while the rest comes from partner websites such as Myntra. These new stores will be exclusive Clovia stores and will also help the firm enhance its brand positioning.

The stores will be 300-450 square feet stores and stock the inventory to help customers walk in and buy the products from the counter.

“Clovia will be dedicating a substantial amount of resources in building the offline business. While we cannot share the exact budgets kept aside, we will grow this business like our online business, profitably and on back of low-burn, high-ROI methodology,” Pankaj Vermani, CEO & co-founder, Clovia was quoted as saying by the Economic Times.

Vermani said offline started for the brand as a marketing / brand outreach program. The intent was to make product touch-points that can be brand builders and self-sustaining at the same time. “However, the response the program got, enticed us to add offline as part of our core strategy. While online continues to grow profitably, offline helped us capture a completely complimentary user base, while continuing to build the brand,” Vermani added.

The company which last raised an undisclosed amount in Series A round from IvyCap Ventures in 2015 targets to turn profitable in 18 months.

Clovia which is run by Purple Panda Fashions sells private label lingerie and gets it manufactured from third party units. It currently works with over 16 such units situated across Delhi-NCR.

Founded in 2013, it is available online on its own website and other e-commerce website besides shop-in-shops, airport installations and exclusive brand outlets across the country.