Mufti to open 70 new stores by end of 2019: Vipul Mathur
India’s leading clothing and fashion brand Mufti over the last two decades has managed to establish a strong presence in the Indian market by continuously reinventing itself to cater to new India.
The brand, launched in 1998 by Kamal Khushlani, is looking to further strengthen its retail network across the country and extend its presence to more than 500 locations in the coming year. It will also open up in neighboring countries in the coming months.
Mufti, known for its denim wear, will continue to expand its product portfolio to cater to a diverse consumer base and will be launching new categories every year.
Vipul Mathur, chief executive officer at Mufti, talks to FashionNetwork.com about the brand’s expansion plan, diversification of product portfolio, response to its newly launched footwear line and future growth.
FashionNetwork.com: How has the response been to your footwear line in the last six months?
Vipul Mathur: The response has been overwhelming to say the least. With the consumer at the very core of our strategies and them being a crucial part of the brand ethos, we, at Mufti strive to match up to their ever-changing tastes and choices. In order to gauge consumer sentiment, we launched a select range of footwear across our top 100 stores. With the reception to this venture being this extraordinary, we plan to take this forward and amplify our reach from 100 to more than 500 locations that comprise multi-brand outlets, stand-alone stores and its existing network of retailers in the coming year.
FNW: Mufti has been rapidly diversifying its portfolio by entering new segments for growth. Which new segments will you enter this year apart from athleisure?
VM: We as a brand have always believed in originality, innovation and diversity, which motivates us to foray into multiple new segments. With the aim to up the ante and enter the market with a fresh new look, we’ve recently introduced the Flight Edition that gives a completely new take on airport looks.
FNW: What is the expansion plan for Mufti? How many stores have been planned and what’s the investment for the same? Any plans to go international?
VM: Currently, Mufti has 280 stores in the country and further expansion is very much in place as we are looking to add another 70 outlets by the end of the year. We look to take our brand to foreign shores and are considering opening up in a few neighboring countries.
FNW: Is the company on track to achieve or surpass the sales target set this fiscal? What is the projected growth considering the expansion of your retail presence and product portfolio?
VM: Over the last year, Mufti witnessed remarkable growth of 11% that includes a commendable first quarter as well. In addition to that, we’ve witnessed a rise in retail and all other formats as well. Be it our large format stores, shop in shops, multi brand stores, and e-commerce. Mufti has also increased its product portfolio by entering into the footwear market and the launch of occasion wear has created the just the right kind of buzz in the market.
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