Mulmul plans retail expansion to fuel growth
Delhi-based women’s wear brand Mulmul is planning to strengthen its retail presence with the addition of seven new stores across India, despite the Covid disruptions, to fuel its growth in the Indian market.
The brand also sees huge growth potential in the online space which already contributes 70 percent to its revenue and aiming for a 100 percent annual revenue growth.
Mulmul is betting on social media, coupled with influencer marketing and its Bollywood clientele to drive online sales and customer acquisition.
Talking about the expansion, Mulmul’s CEO, Harsh Modi, told FashionNetwork.com, “We tried to leverage the pandemic situation to expand our retail presence as a lot of very prime retail locations became available during this time. We continue to be bullish about our offline presence and target to open seven new stores in the year 2022 taking our total count to 15. At the same time we are very selective with our choice of locations and only look at very premium markets.”
“The pandemic had a dual impact on us. While our offline stores saw a drop in sales essentially due to lockdowns our online sales improved. A huge section of the audience that never used to shop online became savvy with e-shopping. Having acquired this completely new market, I see huge growth potential in the online space,” he added.
Mulmul was launched in 2018 as an e-commerce brand and currently has eight stores in leading metros like Mumbai, Delhi, and Bangalore.
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