Recode Studios plans 20 store openings, eyes Rs 50 crore revenue next fiscal
Cosmetics brand Recode Studios is gearing up to open a store in Bilaspur and plans to open 20 exclusive brand outlets in the 2024 financial year. The brand is also eyeing a revenue total of Rs 50 crore next fiscal.
Recode Studios will open its sixth franchise store to date in Bilaspur after recently opening a store in New Delhi’s Rajouri Garden, the brand announced on Facebook. The business retails a multi-brand array of beauty and personal care brands in its stores including Zobha, Keauty, Riyo Herbs, Narre, Winston, and Skinn and You among others.
Recode Studios expects to reach a revenue total of Rs 26 crore at the close of the 2023 financial year on March 31, the business’ co-founder Dheeraj Bansal told ET Retail. The business is witnessing a strong growth momentum and reported sales worth Rs 2.75 crore in the last month alone.
The business has reported significant growth fuelled by expanding both its retail presence and by widening its product selection. The business also appeared on the second season of entrepreneur reality television series Shark Tank India which gave it pan-India exposure.
Recode Studios is based in Ludhiana and, on top of its franchise outlets, has a presence in over 1,000 multi-brand stores across India. The business also retails from its dedicated e-commerce store.
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