Blackberrys menswear brand eyes to open more shops
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India’s Blackberrys menswear brand is eyeing 25 per cent growth in turnover to touch INR1500 crore (US$226 million) by 2020 on the back of retail and portfolio expansion.
The company, which also has the Casuals and Urban brands, plans to add 100 stores this fiscal year, 65 of them franchises.
With turnover of INR720 crore last fiscal year, it has around 205 standalone company stores and is looking to open 70 more outlets this year.
Its exclusive stores contribute almost half of total sales volume, while the rest comes from multibrand outlets and other channels. It also retails through more than 1000 multibrand outlets.
Following the launch of its casualwear brand Blackberrys Urban, the company is planning toexpand its product portfolio.
Questions & Answers
Q.What is Blackberrys' target for turnover growth by 2020?
What is Blackberrys' target for turnover growth by 2020?
Blackberrys is aiming for a 25 per cent growth in turnover. This would bring their total turnover to INR1500 crore (US$226 million) by the year 2020, driven by retail and portfolio expansion.
Q.How many new stores does Blackberrys plan to open this fiscal year, and what proportion will be franchises?
How many new stores does Blackberrys plan to open this fiscal year, and what proportion will be franchises?
The company plans to open 100 new stores this fiscal year. Of these planned new outlets, 65 are intended to be franchise locations, contributing to their overall retail expansion strategy.
Q.What proportion of Blackberrys' total sales volume currently comes from its exclusive stores?
What proportion of Blackberrys' total sales volume currently comes from its exclusive stores?
Blackberrys' exclusive stores currently account for almost half of their total sales volume. The remaining sales are generated through multibrand outlets and other various retail channels.
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