Homegrown urban ethnic lifestyle brand, trueBrowns, has recently ventured into the menswear market. Founder Udita Bansal revealed plans for the men’s segment to contribute 10 per cent of the brand’s revenue this fiscal year, reported ET Retail.
“At 30 per cent, the ethnic wear segment is the largest segment of the US $ 6 trillion domestic apparel market in India. 20 per cent of this overall ethnic wear market is the organised sector and is growing on a 30-40 per cent like-to-like growth, and clearly, we want to capture thsi market, which is about Rs. 35,000 to 40,000 crore market,” Bansal said.
The brand, having established itself in the women’s wear category, has invested Rs. 1.5 crore in product development and marketing, expecting a 3.5X return on investment during the upcoming festive season.
At present, trueBrowns derives 70 per cent of its revenue from Direct-to-Consumer (D2C) sales, 5 per cent from offline channels, and 25 per cent from e-commerce platforms. The brand has recently expanded its offline presence, with 10 Shop-in-Shop (SIS) locations in stores like Shoppers Stop, Iconic, and Nykaa. Looking ahead, trueBrowns plans to open 3-4 more SIS outlets this fiscal year and aims to venture into Multi-Brand Outlets (MBOs) in tier II cities.
Presently, international markets account for 25 per cent of the brand’s overall business, with a major share coming from the US (55 per cent) and the UK (10 per cent), while the remaining 45 per cent comes from other countries.
