Ethnic wear brand Sabhyata plans to more than double its store count to 100 by 2017-end and is eyeing Rs 350-crore turnover in 5-7 years as it expands its footprint across the country.
According to a PTI report: At present, the company has 42 stores in the country and plans to take its total count to 100 by the end of 2017.
“We have a very conservative target of achieving Rs 350 crore turnover in the next 5-7 years. We are expanding aggressively and plan to take our store count to 100 by end of 2017. We are also looking at ramping up our e-commerce sales and exports. We may also consider opening our stores outside India,” Co-Founder, Sabhyata, Anil Arora was quoted by PTI as saying.
The company is expecting a revenue of Rs 100 crore at the end of this fiscal. It had reported turnover of Rs 75 crore in the previous fiscal.
“We will open a mix of company-owned and franchised stores. We plan to invest Rs 10 crore on new store opening,” Arora was quoted by PTI as saying.
The company is planning to open stores in states like Kerala, Gujarat and West Bengal where it does not have any outlets yet.
Sabhyata, which at present sells its products through online marketplace Jabong, also plans to launch its own e-commerce platform.
The brand known for its collection of ethnic wear for women, is also planning to launch Indo-western formal and casual wear for women and expand product for men.
“We also have plans to enter kids wear segment later,” he was quoted by PTI as saying.