Indian knitwear firm Rupa & Company Ltd aims to generate ₹2,000 crore in revenues by 2022 by focussing efforts on modern retail, according to director Siddhant Agarwal, who said the share of modern retail to its annual revenue is likely to rise from 3 per cent now to 10-12 per cent by 2022. The company had reported net sales of ₹1,108 crore as on March 2019.
Modern retail includes exclusive brand outlets (EBOs), large format chains and e-commerce.Indian knitwear firm Rupa & Company Ltd aims to generate ₹2,000 crore in revenues by 2022 by focussing efforts on modern retail, according to director Siddhant Agarwal, who said the share of modern retail to its annual revenue is likely to rise from 3 per cent now to 10-12 per cent by 2022. The company had reported net sales of ₹1,108 crore as on March 2019.#
Moving from a family-managed entity, the company has inducted professionals in the management to lift itself to the next level and the new strategy is internally termed as Rupa 2.0, Agarwal told a news agency.
Opening exclusive brand stores across the country is also part of the new strategy. The company will open 150 company-owned and managed EBOs across the country in two years, Rupa chief executive officer Dinesh Lodha said.
It will also be making its presence in 300 large format retail chains and its products are already available on all major Indian e-tailers.
Lodha said EBOs, named ‘Rupa Comfort Zone’, will help its outerwear contribution to the company's growth as the segment currently gives 7-8 per cent of the total sales.
EBOs will help higher sales of outerwear and we expect it to be doubled by 2022, Lodha added.
Fibre2Fashion News Desk (DS)
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