Mufti to expand product portfolio, eyes Rs 400 crore revenue this fiscal
today Nov 9, 2018
Indian fashion brand Mufti is looking to expand its product portfolio with the addition of athleisure clothing and accessories. It is eyeing revenue of Rs 400 crore ($55.2 million) by the end of this fiscal.
Mufti, a brand known for its denim and casual wear had been diversifying its portfolio and had entered the footwear segment in August this year.
The brand will foray into the accessories and athleisure market around summer 2019.
“We are looking to expand the product portfolio with a focus on new categories such as accessories and athleisure. However, when it comes to athleisure, we will be offering clothes that would be verging more on the lines of casual wear,” COO Vipul Mathur told Businessline.
“Mufti’s athleisure clothing line will be skewed towards the casual wear format, rather than being predominant gym-wears,” he added.
Commenting on the sales growth, Mathur said, “The brand has been profitable and Mufti is eyeing a Rs 400 crore turnover by the end of this fiscal."
Mufti was launched in 1998 by Kamal Khushlani and currently retails through 275 EBOs (Exclusive Brand Outlets) pan India, 1,200 MBOs (Multi-Brand Outlets), 110 LFSs (Large Format Stores like Shoppers Stop and Central) and is also present on all major e-commerce portals including its own website.
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