Menswear brand Blackberrys is eyeing 25 per cent growth in turnover at Rs 900 crore this fiscal on the back of retail and portfolio expansion.
“We are looking at clocking Rs 900 crore turnover and growth of 25-30 per cent in the current fiscal. We plan to open 70 new stores by the end of this financial year,” Founder and Director, Mohan Clothing, Nikhil Mohan told PTI.
Mohan Clothing is the owner of the Blackberrys brand.
“We expect to achieve our growth target through expansion of our retail network and sales from new sub brand, the Blackberrys Urban,” he was further quoted by PTI as saying.
The company had reported a turnover of Rs 720 crore in the previous fiscal. It operates around 205 standalone company operated stores. It is looking at opening 70 more outlets in this fiscal.
Blackberrys also retails its products through over 1,000 multi-brand outlets.
When asked if the company is also looking at entering into women’s wear segment in future, Mohan said, “No. We do not wish to go in the women’s wear segment any time soon. We want to concentrate on the current portfolio and new sub brands that we will launch”.
Blackberrys, which launched a new casual wear brand Blackberrys Urban targeting people in the age group of 25-40, said the company will expand its product portfolio.
“Our next step would be to introduce smart business wear, encompassing semi-western wear, smart casuals and chinos,” he was further quoted by PTI as saying.