YepMe To Open 400 Stores
Fashion e-tailer Yep-Me plans to open 400 stores by the end of this financial year in keeping with the omnichannel strategy followed by most e-tailers to ramp up sales.
The Gurgaon-based company, which has four stores in the suburban city, has identified cities including Noida, Meerut, Bengaluru, Hyderabad, Ludhiana and Latur for expansion through franchise route, CEO Vivek Gaur said.
Most of the stores in metros will be company owned and operated while those in tier II towns will be franchisee owned, he said.
The company is attempting to offer a seamless shopping experience across multiple towns by running similar schemes and offers, allowing “anywhere returns” of products bought by customers across stores in different cities.
The company, which positions itself as an online fashion brand that makes its own brand of products, is aiming to clock revenue of Rs 280 crore this fiscal compared to a loss of Rs 40 crore last year.
YepMe, which competes with Myntra, Amazon Fashion, Limeroad and Zovi, is also betting big on software sales to push up revenues. It has started pitching to omnichannel single-brand players integrated software Omni Catalyst developed by its parent firm VAS Data that manages both online and offline inventory.