Blackberrys, the leading menswear brand in India, which has been expanding its retail footprint in the country, is now targeting to note Rs. 1,500-crore turnover by FY 2020.
“Initially we’re expecting a 25 per cent increase in revenue to note Rs. 900 crores turnover in the current financial year,” informed Blackberrys Director Nikhil Mohan.
Blackberrys, Blackberrys Causals and Urban are the three brands offered by the fashion retailer, which reported revenues of Rs. 720 crores in the previous fiscal and is now planning to add 100 new stores this fiscal. At least 35 of them will be company-owned while rest will be franchise-operated.
Blackberrys, which exclusively caters to men, currently operates around 240 brand stores out of which 185 are company-operated while others are franchise-. It also retails its products through more than 1,000 multi-brand outlets in the country.
The brand is now focussing on south India as it has less presence there. It recently opened an outlet of Urban Blackberrys in Bengaluru. This is the 13th store of Urban Blackberrys in the country.
At least 50 per cent of sales volume comes from its exclusive retail stores while rest 50 per cent comes from multi-brand outlets and other channels. Online has 6 per cent contribution to its total sales.
The fashion brand, which is enhancing its product portfolio, however, has no plans to foray into womenswear section. Recently, Blackberrys revamped its brand image and adopted a new logo and tagline as well.
