Fashion jewellery brand Voylla plans to expand its presence to 500 retail points by December 2019 as it eyes a larger play in Tier-I and -II cities across the country.
According to a PTI report: The company, which started as an online player in 2012 and ventured into offline retail in 2015, now has 240 retail points.
“We are looking at doubling our retail presence and by December 2019, we expect to have 500 stores. These will include standalone stores as well as retail presence in large format retail stores,” Vishwas Shringi, Founder and CEO, Voylla told PTI.
He added that the company is keen to tap the Rs 1,800 crore-opportunity in fashion jewellery category in India.
Shringi said the company is looking at doubling its revenues to Rs 300-400 crore in two years and break-even in 2018-19.
As part of its retail expansion, the company would also be adding more ‘Dare’ outlets that cater to the men’s jewellery and accessories segment.
“We ran a pilot and found that our male customers found it more comfortable via standalone stores. So, we are expanding this concept as well and expect 20 per cent of our outlets to be ‘Dare’ stores,” he was quoted by PTI as saying.
Voylla currently has two such ‘Dare’ stores in the country — Cochin and Noida.
Dare, which offers men’s accessories like neckpieces, bracelets and rings, already accounts for 30 per cent of Voylla’s topline.