Major Brands plans fivefold revenue increase within 3 years
The fashion and beauty group Major Brands (India) Private Limited plans to reach a store count of over 500 within the coming three years and increase its revenue fivefold during the same time period.
Major Brands currently has a total of 180 stores across India for its numerous fashion and beauty brands and aims to reach 500 within the coming three of three and a half years. The business entered India in 2001 and retails global brands including Aldo, La Senza, Charles and Keith, and New Balance, which it brought to India two years ago. The most recent brand that the group brought to India was Bath and Body Works earlier in the month.
Along with brick and mortar store openings, the business also aims to increase its online revenue. Online sales currently account for five percent of the business’ total and the aim is to bring that figure up to between 25 and 30 percent over the coming three to three and a half years, Major Brands’ President, Tushar Ved told Mint.
With the trend of adding a new brand to its portfolio every year, the business may also be bringing more international fashion brands to India soon. Major Brands has partnered with the US based business L Brands which it has worked with to bring both Bath and Body Works and La Senza to India. Other brands in L Brands’ portfolio include Victoria’s Secret and Pink and so there is a chance that Major Brands will launch these labels in India at some point.
Copyright © 2021 FashionNetwork.com All rights reserved.