Fashion jewellery brand Voylla plans to increase its retail touch points to 400 by fiscal 2020 as it chases turnover target of up to Rs 300 crore.
“We are looking at increasing out retail touch points to 400 by financial year 2020. We are eyeing turnover of Rs 200-300 crore in 2-3 years time,” Co-founder and CTO, Voylla, Jagrati Shringi was quoted by PTI as saying.
According to a PTI report: The company, at present, has 123 retail touch points — which include exclusive stores, shop in shops in large multi-brand outlets and kiosks — in India.
By end of next financial year, we looking at doubling our retail touch points to 250, Shringi said.
The company recently opened its franchise store in Ludhiana, Punjab.
“By 2020, we are looking at a 50:50 mix of Voyalla-owned outlets and franchised outlets,” she was quoted by PTI as saying.
Voylla, which had raised US $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.
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.