Premium menswear brand Blackberrys, owned by Mohan Clothing Company Pvt Ltd, is looking to strengthen its footprint in the southern and eastern region of India during this fiscal.
The company will expand into smaller towns and expects 20 percent growth on the back of its retail expansion in these regions during the fiscal year 2019-20. Currently, south Indian states like Andhra Pradesh, Telangana, Tamil Nadu, Kerala, and Karnataka contribute around 24 percent to the company’s overall sales.
Blackberrys is expecting revenue of Rs 1,100 crore ($159.6 million) for the financial year ended March 2019. It had reported sales of Rs 900 crore for the fiscal year 2017-18.
“South India has to be seen as five different markets with different requirements. It will take another year or so for us to strengthen our footprint there. We will also focus on the eastern markets of West Bengal, Odisha, and Jharkhand,” Sangeet Kishore, brand head at Blackberrys, told BusinessLine.
“We are hopeful of clocking a 20 percent growth this fiscal. There is some improvement in consumer sentiment. And the threat of deep discounting by e-tailers seems to be waning. Not many sites are now opting for the deep-discounting strategy,” he added.
Blackberrys, which operates more than 260 exclusive brand outlets across India has set a target revenue of Rs 1500 ($229 million) by fiscal 2020.