Streetwear brand VegNonVeg expects to conclude FY ’25 with Rs. 175 crore in revenue, according to Abhineet Singh, co-founder of VegNonveg. The brand, which generated Rs. 85 crore in sales in FY ’24, expects to generate Rs. 110 crore FY ’25.
“With the new doors opening and a focus on growing a larger and more diverse customer base, we are confident in meeting our revenue targets,” he added.
Aside from that, the shoe business is expected to expand from US $ 2.5 billion to US $ 40 billion over the next several years. We are convinced that if we make the correct investments and work to extend our market, we will develop and establish an industry,” he added.
The omnichannel brand, which now has three exclusive brand shops in Mumbai, Bengaluru, and Delhi, plans to grow its offline presence by launching three more by the end of FY ’26.
“Going ahead, we will be opening stores in new cities like Hyderabad and Ahmedabad and existing cities like Delhi and Mumbai,” he said.
The typical shop size for the brand is 2,500 square feet, with 600-700 SKUs. Currently, 65 per cent of the revenue originates from internet channels, with the remaining 35 per cent generated by offline channels.
“At the present, we carry 30 unique brands throughout footwear, clothes, and collectibles categories, with 20 per cent available on our website. We have a 30 percent repeat rate,” he stated.
Currently, private labels generate 20 per cent of the brand’s entire income. The company, with an 18 per cent profit margin, plans to invest Rs. 20 crore in expanding its retail network and private label in the next few years.
