Hidesign, a brand that has become synonymous with high-quality leather accessories such as bags, belts, and wallets, is looking to launch 20 stores across malls and airports this calendar year.
In an exclusive interview with Indiaretailing on the sidelines of India Fashion Forum 2018, President, Hidesign, Dilip Kapur said, “We are planning to open 10 new stores at airports and 10 more in malls by December end.”
Hidesign will open stores at the airports of Delhi, Mumbai, Bengaluru and Kochi, and some more stores will be opened at Tier-I cities, he added.
Currently, the brand has 84 stores spread across India and abroad. It entered the US in 2014 to make international inroads.
“We will continue to expand in India and in emerging markets internationally. We have recently launched in the markets of Indonesia, Portugal and Kenya,” Kapur added.
Tapping Opportunities In Transit Retail
Hidesign has been exploring airport retailing from almost 6 years and more and it has shown growth over these years for the brand which is present at all major airports in India.
“We consider airports critical to the development of the brand internationally. We exclusively focus towards a well-informed, career oriented and cosmopolitan consumer both in India and internationally. The contribution from transit retail has been around 12 percent of the revenue this fiscal,” revealed Kapur.
The success of Pondicherry-based brand has remained unaffected even after the entry of many international brands in the Indian market. The growth of the brand has been continuous and steady.
What began as a hobby of entrepreneur Dilip Kapur in 1978 has seen its revenue grow from Rs 11.3 crore in fiscal year ended March 31, 2010 to Rs 170 crore in fiscal year ended March 31, 2017.
“By the end of the next financial year, we are expecting around 20 percent growth,” revealed Kapur.
The brand, which initially started as a men’s brand, attributes its success to its loyal customers who have shown a keen interest in the products both online and offline.
According to Kapur, “Both online and offline channels are necessary for the success of the business. However, stores continue to dominate with 65-70 percent of the total revenue of Hidesign.”
Founded over 36 years ago, Hidesign, besides its 84 exclusive stores, sells products through several independent stores and major department stores in international markets. Premium brand Louis Vuitton owns a minority stake in the company.