Voylla eyes revenue of Rs 100 crore this fiscal, plans to expand men’s category
today Nov 28, 2019
Fashion-jewellery brand Voylla is planning to expand its men’s category by opening exclusive jewellery stores for men next year.
Voylla has witnessed strong growth in its men’s jewellery segment and expects the category to grow further with the expansion of its retail network and product portfolio.
The company expects sales revenue of Rs 100 crore for the current financial year with the men’s category contributing 30 percent to its overall revenue.
"Currently, 30 percent of our total business is coming from the men's category. We see this category growing much faster for us. To begin with, Voylla will start exclusive kiosks only for selling men's jewellery and then gradually roll out exclusive branded outlets," Vishwas Shringi, CEO of Voylla, told the Economic Times.
On the back of its retail expansion, the company is eyeing revenue of around Rs 300 crore ($41.8 million) by the financial year 2020 and expects to touch Rs 1,000 crore in five years.
“In the next five years, the company has the potential to breach the Rs 1,000 crore mark. The kind of expansion we are planning and the rise of number in the occasions where imitation jewellery is worn will help us reach the numbers," Shringi added.
Voylla retails from both offline and online channels. The brand has more than 250 stores across India and claims over 1.5 million hits per month on its online platform.
Copyright © 2020 FashionNetwork.com All rights reserved.