Menswear brand Blackberrys is targeting a revenue of Rs. 1,500 crore by the end of this fiscal year, focusing on product innovation and category expansion, said Rajesh Sethuraman, Vice President – Brand Experience at Blackberrys Menswear in an interview.
The company claimed that it has been growing at a compound annual growth rate (CAGR) of over 35 per cent year-on-year, opening approximately 75 stores in the past year and planning to add 100 more this year.
“We are looking at three to four times growth in the next four to five years. During this period, we want to open about 400 stores across the country,” said Sethuraman. Presently, Blackberrys operates in over 350 cities in India, with more than 1,250 touchpoints. Last year, it expanded internationally, entering the Nepal market with two stores in Kathmandu.
Regarding online engagement, Sethuraman noted that post-Covid, Blackberrys ramped up its online activity on Blackberrys.com, recognising that 80 per cent of its consumers discover the brand online even for offline purchases. The brand faced challenges in online customer engagement and retention, along with a high rate of abandoned carts. To address these issues, Blackberrys partnered with WebEngage, a retention automation platform, utilising data-driven insights for enhanced customer engagement and retention.
Surbhi Juneja, Director – Strategy & Growth at WebEngage, explained that the partnership led to a 25 per cent decrease in the abandoned cart rate, a 15 per cent increase in the conversion rate, and a 10 per cent rise in customer lifetime value.
