Ed Hardy India plans 15 to 20 new stores annually
In order to reach its revenue target of 500 crore rupees by 2022, Ed Hardy apparel and accessories has planned a yearly expansion of 15 to 20 new flagship stores in India.
Ed Hardy, the apparel and accessories brand based on the tattoo designs of Don Ed Hardy, has managed to make a comeback in India and is now planning its next big expansion.
By 2022, the label aims to become a 500 crore rupees brand (around 75 million dollars). The brand may well be on track to reach its target as, last financial year, (2016- 2017) the brand’s revenue reached 70 crore rupees (around 11 million dollars) and the prediction at present for the current financial year is a revenue total of 100 crore rupees (around 15 million dollars).
The brand is currently owned in India by Iconix Lifestyle and is under license in partnership with Arvind Lifestyle Brands. Alok Dubey, CEO of Lifestyle Brands, Arvind Lifestyle Brands, stated that the brand has made a strong enough comeback in the market to warrant expansion.
The brand currently has 20 exclusive flagship stores and is also available in more than 75 department stores and over 100 multibrand outlets. The expansion Dubey mentioned refers to Ed Hardy’s plans to open 15 to 20 exclusive brick and mortar stores each year in order to reach its revenue target.
Ed Hardy also recently expanded its online presence as it has partnered with Amazon and Myntra among others to sell through their e-commerce platforms. Although the brand does not yet have its own e-commerce site, online sales account for 15 percent of total sales.
In 2002, the acclaimed tattoo artist Don Ed Hardy licenced his tattoo designs and illustrations to be made into a clothing line.
Ed Hardy was launched in India in 2007 and was, at that time, part of Wadhawan Lifestyle from Mumbai.
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