Recode Studios expands retail presence, opens its 10th store in Ludhiana
By Retail4Growth Bureau | September 20, 2023
The brand has also outlined its goal of launching an additional 10 stores this fiscal year, with the aim of achieving a revenue of Rs. 50 crore by FY24.
Makeup brand Recode Studios has announced the opening of its 10th store in Ludhiana with an initial investment of 1.5 million INR. The newly launched Ludhiana store of Recode occupies 230 sq ft area, slightly larger than the brand's average store size of approximately 200 sq ft. Furthermore, they have outlined their ambitious goal of launching an additional 10 stores within this fiscal year, with the aim of achieving a revenue of Rs. 50 crore by FY24.
"Recode Studios has always been about making beauty accessible to everyone. Our journey from a small startup to opening our 10th store in Ludhiana is a testament to the trust and love our customers have placed in us. We are thrilled to bring our unique approach to makeup and skincare to Ludhiana and provide a shopping experience that combines quality and affordability," added Dheeraj Bansal, Co-founder of Recode Studios.
Recode’s main focus has been on Tier 2 and Tier 3 cities. As Dheeraj Bansal, Co-Founder of Recode Studios, had recently shared with Retail4Growth in an exclusive interaction, “Tier 2 and Tier 3 cities have been the primary targets for us due to the lack of quality cosmetics available in these markets.” Targeting cities such as Bilaspur, Chhattisgarh, Nagpur, Ranchi, Siliguri, etc, the brand is fast carving a presence for itself.
Recode Studio’s expansion is also very clearly driven by the Franchise model, wherein the company offers opportunity to local store owners to be a part of its omnichannel success and scale up collective business in a cost-effective way. “The franchisees receive support from the backend team, including training for beauty advisors, product demonstrations and marketing materials. A Franchise model is definitely better for us, as it encourages entrepreneurship. The franchisee is also more willing to put in the hard work and effort to earn, especially after observing other successful franchisees. So it’s a win-win situation for us,” explained Dheeraj to Retail4Growth.
