Universal Sportsbiz to expand retail network, eyes Rs 1,000 crore revenue by 2021

Source: https://in.fashionnetwork.com

Indian fashion retailer Universal Sportsbiz Pvt Ltd (USPL) has planned massive expansion across India as it looks to touch 1300 outlets and is eyeing revenue of Rs 1,000 crore (approx $137 million) over the next three years.

Universal Sportsbiz had recently raised Rs 99.2 crore ($13.6 million) in funding from the previous investor Accel along with NB Ventures Ltd and Alteria Capital. The company is looking to use these funds to expand its presence across the country and expansion of its product portfolio.

Universal Sportsbiz had clocked revenue of Rs 150 crore during the previous fiscal and is hoping to double its revenue during the current financial year.

“The focus over the next 2-3 years will be on increasing the number of stores across metros, as well as tier-2 and 3 cities as we have not even scratched the surface yet. We are looking at expanding our network to over 1300 outlets across 50 cities over the next two years,” USPL founder and CEO Anjana Reddy told Times of India.

“We will also be looking at expanding our portfolio of brands and investing in technology to optimise the business,” she added, pointing out that after having introduced footwear under the WROGN youth fashion brand for men, which is led by cricketer Virat Kohli, USPL, is also looking at introducing accessories like backpacks under the WROGN brand.

Universal Sportsbiz is backed by former Indian cricketer Sachin Tendulkar and currently has 305 stores across 50 cities for its three brands — WROGN, Imara and Ms Taken.

Categories: Apparel, Asia, Brands, Business, India, Retail, Technology, USA

Tags: , , , , , , , ,

%d bloggers like this: