Rupa & Co eyes Rs 2,000 crore revenue by 2022
today Oct 18, 2019
Knitwear major Rupa & Company Ltd is eyeing revenue of Rs 2,000 crore ($281.2 million) over the next three on the back of its retail expansion and banking on modern retail to drive sales in the coming years.
For the fiscal year 2018-19, Rupa & Co had reported a net profit of Rs 93 crore with sales revenue of Rs 1,108 crore with modern retail contributing a meagre 3 percent. Going forward, Rupa expects the share of modern retail to increase to 12 percent by 2022.
Rupa Ltd is planning to strengthen its retail presence by opening 150 new stores over the next two years.
"We are targeting at Rs 2,000 crore topline by 2022 from Rs 1,108 crore of revenue and modern retail will play an important role in the journey. Opening exclusive brand stores across the country is also part of the new strategy," Rupa director Siddhant Agarwal was quoted as saying by PTI.
Talking about the expansion, Rupa CEO Dinesh Lodha added, "To increase modern retail presence, we will open 150 company-owned and managed exclusive brand outlets (EBOs) across the country in two years. Besides, the company will be making its presence in 300 large format retail chains and its products are already available on all major e-tailers of the country.”
Rupa & Company Limited is one of the largest knitwear brands in India that produces innerwear, casual wear, thermal wear, and sleepwear for men, women, and kids.
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