Shantanu & Nikhil expects to cross Rs 100 crore revenue mark this fiscal
Shantanu & Nikhil is confident it will achieve substantial growth this financial year and expects to cross the Rs 100 crore revenue mark by the end of March, 2023. The brand plans to continue to expand its affordable luxury ready-to-wear line and couture offering with four store openings planned for the coming two months.
The brand, which began as a couture label and forayed into ready-to-wear in recent years, expects 95% year-on-year growth this fiscal, designer Shantanu Mehra told ET Retail. The brand grew by 40% last year, compared to pre-Covid levels, and is seeing strong traction in the affordable luxury segment with S&N.
Shantanu & Nikhil currently operates 15 flagship stores: six for its couture offering and nine for S&N. With four new stores planned for the coming two months, the brand is confident that S&N will become a household name across India and sees high growth potential in the menswear market.
Aditya Birla Fashion Retail Limited acquired a 51% stake in Shantanu & Nikhil in 2019 which enabled the brand to expand its S&N line by harnessing ABFRL’s supply chain capabilities. This has helped the brand to grow swiftly and the plan is to continue to expand its product offering with new launches including sweatshirts and casual wear.
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