Raisin eyes revenue of Rs 30 crore for FY 19-20, plans international expansion

By

Maverick Martins

Published
Mar 29, 2019

Ethnic and fusion wear brand Raisin, owned by Parvati Fabrics Limited, is targeting revenue of Rs 30 crore (approx $4.4 million) for the financial year 2019-20 as it looks to expand its domestic and international presence this year.
 

Raisin is looking to strengthen its retail presence in the country with expansion across its large format stores and will be opening its exclusive brand outlets with a focus on tier 2, 3 cities by July this year.
 
To boost international sales, the brand will also be expanding its presence in markets like Canada, Singapore, USA, and UK.

“Raisin plans to expand in large format stores by the end of 2019. Also, Raisin plans to start its EBO by July 2019 in tier 1 & 2 cities across India,” Vishal Pacheriwal, co-Founder of Raisin told FashionNetwork.com.
 
“Currently, Raisin is available in one store in London and with the next season coming in Raisin plans to expand in Singapore, Canada and U.S. with 20-plus SIS stores by July 2019. Currently, 3-5 percent of total sales are from international markets,” Pacheriwal added.
 
Talking about the Raisin growth plans, Pancheriwal added, “The brand currently generates revenue of Rs 4 crore and we are targeting Rs 30 crore for FY 19-20. The brand is profitable but brand-building expenditures are something which would start getting profitable post-2020.”
 
Raisin was launched in August 2018 by brothers Vikash and Vishal Parcheriwal. It is currently present at 72 SIS stories in India and online houses like Myntra, Jabong, Amazon, Flipkart, Ajio along with its e-commerce website.