Godrej & Boyce’s retail brand India Circus is expecting nearly 10 times growth, to clock a revenue of Rs 300 crore by 2020, a top official said Tuesday.
“Our current revenue is Rs 35 crore and we are working towards achieving a Rs 300 crore revenue by 2020 and Rs 700 crore by 2025,” Krsnaa Mehta, Founder and Executive Director, India Circus told PTI.
According to a PTI report: The home decor, design and lifestyle brand India Circus was launched as a private label in 2012 by Mehta.
Godrej acquired the business in two phases, first picked up 51 percent stake in December 2015 and then in September 2018 acquired 100 percent, to draft it in the portfolio of Godrej Interio.
The investment being put into the India Circus business by Godrej Interio is upwards of Rs 50-100 crore annually.
Mehta said the company is planning to grow its online and offline businesses at a rapid pace to drive the growth. Its online business contribute 60 per cent and offline adds 40 percent.
“Currently we have 5 stores in total, 2 in Mumbai, 1 each in Chennai, Bengaluru and Kolkata. We are looking at a company owned, company operated and franchise model to expand our presence across cities. Our aim is to have 40 stores by 2020, which is almost over 1 store per month,” he told PTI, adding that the company delivers to 10,000 pincodes across the country.
Each offline store requires a minimum investment of at least Rs 50-60 lakh, he added.
It is also looking at deepening its presence in the international market.
“We have retailed in Mauritius, Singapore and Qatar (National Museum of Qatar) and are also selling in the European continent via the West wing Group, which is a Euro 254 million group in the continent.
We will be globally accessible online to our entire consumer base and global offline stores are definitely a part of our 5-year-plan… We are also looking at being globally accessible by 2020 with stores in London, Hong Kong, New York City and many more,” he further told PTI.
India Circus licenses its designs to Future Group, Bombay Dyeing, Clay Craft India and Marshalls Wallcovering and its licensed designs/products are retailed out of all outlets and multi-brand outlets of these brands.
“Licensing and royalties is one of the clearest whitespace for us. We want omni-channel presence. Currently we are looking at market places and premium partnerships with online players like Amazon, Myntra, Jabong, Pepperfry and other players in the space,” he told PTI.
He further said the company sees a huge demand in corporate gifting, making it an inorganic growth opportunity.