Cover Story, the women-centric fast-fashion brand by Future Retail, is targeting two fold increase in sales this fiscal. The brand’s sales totaled to Rs 51 crore in the fiscal 2018. Additionally, the brand is also hopeful to break even at Ebitda level (earnings before interest, tax, depreciation, and amortisation) this fiscal.
According to Manjula Tiwari, the Chief Executive of Future Style Labs, the brand is reporting 12-30 per cent increase in like-for-like growth at its stores, indicating increase in customer base.
In view of positive response from consumers, the women’s western wear brand, launched in April 2016 and targets consumers aged 22-40 years, has decided to strengthen its offline presence also by adding six new exclusive brand outlets (EBOs) this year.
The brand has presence in Delhi-NCR, Mumbai and Surat. It is also available in various shop-in-shop formats such as Shoppers Stop, Central, Kapsons, Iconic and Sohum.
In addition to its own website, the Cover Story collection is also sold through e-stores such Myntra, Jabong and Koovs. The brand even collaborated with Central to strengthen its presence in major cities of India.
Cover Story was launched to compete with foreign imports such as Zara, owned by Inditex. The Future Group also owns and operates lifestyle stores like Brand Factory, Central, etc.
