Pepe Jeans sees a significant opportunity for growth in the Indian market and plans to open over 100 brick-and-mortar stores in the country in the coming three years and expects to see continued double digit growth.
“We will add 100 odd stores in the next three years and terms of turnover, we are looking at a CAGR growth of 18 to 20%,” Pepe Jeans’ India CEO and managing director Manish Kapoor told the Press Trust of India. “So we should be almost around Rs 2,000 crore of consumer sales in three years… If I look at business in India, last year on a consumer sales revenue we did close to Rs 1,200 crore and book revenue of Rs 562 crore. We grew almost 55% as compared to the previous year.”
Pepe Jeans has also grown compared to its pre-Covid-19 numbers with growth up 42% since before the pandemic hit, India Retailing reported. The brand plans to expand with an omni-channel strategy to reach new customers both online and in stores.
Pepe Jeans expects that around 55% of its overall business will come from its own sales channels comprising its stores and direct to customer e-commerce store. The business has seen sales in Tier 2 and 3 locations rise thanks to increasing disposable income in many rural areas and Pepe Jeans is harnessing e-commerce to reach this increasingly lucrative demographic.
Copyright © 2023 FashionNetwork.com All rights reserved.