Fashion jewellery brand Voylla is eyeing up to Rs 300-crore turnover in 2-3 years as it builds its retail presence across the country.
“We are eyeing turnover of Rs 200-300 crore in 2-3 years time. We are looking at opening 300 retail touch points across the country in 2 years,” Voylla co-founder Vishwas Shringi told news agency PTI.
The company, at present, has 96 retail touch points — which include exclusive stores, shop in shops in large multi-brand outlets and kiosks — in India.
Shringi told PTI, at present, 65 per cent of its sales comes from online while 35 per cent from offline stores. “However, in six months we expect equal contribution from both channels,” he added.
At present, all its stores are company-owned and company operated but Voylla will look to tap into the franchise model to expand its retail presence.
Voylla, which had raised USD 15 million in funding from private equity firm, Peepul Capital last year, said it does not require fresh funding for the next one year.
Prior to that, the company had raised two rounds of funds in 2012 and 2013 from Snow Leopard Technology Ventures.
“We would look at large fresh funds when we expand operations overseas. We have started a pilot project in the UAE to understand market preference. After a year, we will look at operations in the US and Europe,” Shringi was quoted by PTI as saying.
Voylla recently co-launched a new jewellery brand Navrang in partnership with Viacom18 Consumer Products, which will design and offer jewellery similar to those worn by on-screen characters from Colors.
Founded in 2011, Voylla manufactures and sells jewellery under the ‘Voylla’ brand.