The Man Company eyes Rs 300 crore revenue on back of its retail expansion
Men's grooming brand The Man Company is expecting to achieve Rs 300 crore ($41.1 million) in net revenue over the next three years and looks to break-even by September 2022 on the back of its retail expansion.
The brand backed by FMCG major Emami Ltd is planning to strengthen its retail presence through hypermarkets and exclusive stores to achieve its revenue targets.
“We are targeting a net realised revenue of Rs 110 crore by March next year and Rs 300-plus crore in three years. the company is currently witnessing 20-25 per cent month-on-month growth, and the company is looking at achieving break-even by September 2022,” Hitesh Dhingra, co-founder and managing director of The Man Company, told PTI.
“We are increasing the number of points where our products are available in pharma and wellbeing stores, and hypermarkets from 1,200 to 10,000 (by March 2022). The company is also expanding the number of its exclusive stores and that will increase from 20 to 65 by March next year. We are expecting 2X retail growth from new openings,” he added.
Apart from selling online through its website and e-commerce platforms, The Man Company currently has over 1,200 retail outlets in 75 Indian cities and sells in multi-brand stores including Spar, Walmart, Shoppers Stop, and Lulu, among others.
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