Indya opens 2nd second exclusive store in Pune
By Retail4Growth Bureau | November 27, 2018
The store marks the brand’s 15th in the country and reflects its strong focus on offline expansion.
High Street Essentials Pvt Ltd (HSE) has announced the launch of their second exclusive Indya outlet in Pune, India. The store is located in the up-market Phoenix Market City at Viman Nagar.
The new outlet is spread over 760 sq ft and is designed to allow shoppers browse and try on merchandise in a leisurely manner, says the company statement. Recently the brand brought out a festive splash with colourful skirts, palazzo pants, chic jackets which can be paired with colourful and shimmery crop tops, tunics and tops with attached dupattas, flattering high slit tunics and dhoti pants. The price range for the products varies from Rs 1,500 to Rs 5000/-.
Tanvi Malik & Shivani Poddar, co-founders of HSE said, commenting on the launch of the store, “While we have traditionally been an online-led company, the offline space has increasingly become a significant revenue generator for us with our pan-India departmental store presence and exclusive brand outlets. In addition to that, it helps the customer establish a relationship with the brand by helping them understand and appreciate the product while increasing brand recall and reinforcing positive customer behavior. We endeavor to provide the best shopping experience with our collection which focuses on creating affordable fusion-wear garments for the evolved Indian woman who is rooted in culture and yet modern in her outlook.”
HSE first forayed in the offline retail space by partnering with Future Group’s Central Mall. While a major chunk of the company’s revenue comes from its online channels, the offline sales from the 14 standalone stores across Delhi, Mumbai, Chennai, Ludhiana and Bangalore and more than 70 shop-in-shops contribute to over 35% of the company’s revenue, according to the company statement. HSE is planning to open 20 – 25 new Indya stores in the next 12 to 16 months, targeting metros, mini-metros and affluent Tier-1 Cities.
This financial year, High Street Essentials Pvt Ltd has invested over 2.5 crores for their offline expansion and are looking at launching new stores across different cities in the country.
The company has also raised Rs 5 Crore in venture debt from Trifecta Capital and plans to deploy these funds primarily for offline expansion.
The new store, spread across 625 sq. ft., is Crocs’ third store in the city