Patanjali launches apparel brand Paridhan, eyes Rs 1000 crore revenue next fiscal
today Nov 6, 2018
Yoga guru Baba Ramdev entered into the fast-growing branded apparel segment with the launch of its first apparel and accessory store for ‘Patanjali Paridhan’ in New Delhi.
The company wants to compete with multinational companies like Adidas and Puma and will be opening 100 stores across the country by March 2019. Patanjali is targeting revenue of Rs 1000 crore (approx $137 million) from its apparel brand by next fiscal.
Patanjali Paridhan stores will sell sportswear brand Livfit, women’s wear brand Aastha and men’s wear brand Sanskar targeting customers across all age groups.
“This year, we would have a network of 100 stores ranging between 500-2,500 sq feet. We are aiming a turnover of around Rs 1,000 crore in the next fiscal. It would also be available online by next year. We are working on it.” Baba Ramdev was quoted by PTI as saying.
“Our target is to compete with multinational companies in this field such as Adidas, Puma. The Paridhan range would be around 30-40 percent cheaper and would target ordinary people. We want ordinary people to feel proud of wearing domestic brand,” he added.
Paridhan has plans to expand its product portfolio and will soon be adding of artificial jewellery and wedding clothes to its stores.
Paridhan will offer 1,100 options along with 3,500 SKUs of menswear, womenswear, kidswear, denim and accessories in the price range of Rs 500-1,700.
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