NEW DELHI: Menswear brand Blackberrys aims to grow over 60 per cent in two years to register Rs 1,500 crore turnover by FY2020, as the company is expanding its sales network, said a top company official.
The company, which operates three brands — Blackberrys, Blackberrys Causals and Urban – has plans to add 100 new stores this fiscal.
“We are expecting 25 per cent this fiscal and the next fiscal and we see ourself in the region of Rs 1,500 crore by FY 2019-2020,” Blackberrys Director Nikhil Mohan said.
Blackberrys, which had started its journey from the bylanes of Chandni Chowk in 1991, had closed FY 2017-18 with a revenue of around Rs 900 crore.
The company presently operates 240 brand stores in which 185 are the company operated stores and rest are franchise operated.
In the coming new 100 stores, which the company plans to open this fiscal, 35 will be company owned and rest 65 would be franchise operated.
The company is now planning for a push towards southern markets with its three brands.
“Our biggest focus is South India, which is a large market for the industry. Our participation is there low right now,” Mohan said, adding that the company had created logistics infrastructures to help growth in the region.
Presently, its exclusive retail stores contributes almost 50 per cent in sales volume, while the rest come from multi brand outlets and other channels.
Online sales contribute around six per cent of the total sales, Mohan added.
Blackberrys also expects contribution from accessory products to grow up to 10 per cent of its total stores’ sale from the present 7 per cent.
As part of its strategy, Blackberrys has last week revamped its brand image and adopted a new logo and tagline. (AGENCIES)
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