Pepe Jeans is looking to double its sales in India upto Rs 1,500 crore in the next three years on the back of foray into new categories such as footwear and kids-wear besides store expansion.
The company, which has 200 stores at present, plans to increase it to 450 to 500 in both metro cities and growing tier II & III areas, while putting more focus on its own branded outlets.
“We will have a sales between Rs. 1,400 crore and Rs 1,500 crore by FY 2018-19. The idea is double every three year. Even in the last three years we have doubled our turnover also,” Pepe Jeans India CEO Kavindra Mishra said. This fiscal the company expects to have sales of Rs 750 crore while adding 40 more stores in its network.
“We would end up to Rs 750 crore in terms of retail sales and we would be close to 240 stores by the end of FY 2015-16,” he said adding that the group had a retail sales of around Rs 350 crore in FY 2012-13.
Besides the 200 outlets, the company’s products are also available at 700 multi-brand outlets (MBOs) and online through its channel partners such as Myntra and Jabong. About key growth drivers, Mishra said besides the existing categories, the company’s forays into new segments will add to sales.
“There are new categories like shoes, sun glasses and kids-wear that we are adding,” he said. The first standalone kids-wear store would open next year. Besides company’s focus will be more on exclusive stores on franchise model, rather than to grow through MBOs, Mishra added.
