The new Recode Studios store at Ludhiana is its second in the city
New Delhi: Indian cosmetic brand Recode Studios has opened its 13th outlet in the country at Ludhiana in Punjab, the company announced in a press release on Monday.
The new store is spread across 250 sq. ft. and is the brand’s second store in the city.
“This latest expansion stands as evidence towards our commitment to make premium makeup accessible to all,” said Dheeraj Bansal Co-founder at Recode.
Recode Studios company is looking to have 25 stores by the financial year (FY) 2023-24 and has several store openings in the pipeline. The forthcoming locations are Mumbai, Chennai, Hyderabad, Jaipur, Indore and Rudrapur.
Founded by Dheeraj Bansal and Rahul Sachdeva in 2018, Recode Studios has reported a steady growth in sales over the years. Its yearly sales have climbed from Rs 25 lakh in 2018 to Rs 2 crore in FY 2019-2020, Rs 5 crore in FY2020-2021, Rs 15 crore FY2021-2022 and Rs 26 crore in FY2022- 2023.