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PrettySecrets targets 300 stores in next 3 years

By Satarupa Chakraborty | July 19, 2018

After recently opening their 25th exclusive brand outlet (EBO) in Mumbai’s Kemps Corner, lingerie brand PrettySecrets, has disclosed their plan to take its EBO count to 300 and SIS count to 250 in next 3 years retail4growth speaks to Karan Behal, Founder & CEO, PrettySecrets (MTC Ecom Pvt Ltd.), on the booming lingerie market in India and how the brand is going to participate in the growth trajectory.

When it came to store expansion, unlike many other brands, you seemed to start with small towns before bigger cities. Was that a strategy?

Not Really. When we embarked on our omni-channel journey about a year back, we decided to have certain number of stores across geographies. What followed was opening stores as soon as we could get our hands on the correct locations. Our first store opened in a town as small as Itanagar, which had a population of only 1 lakh. Today, in a over-populated city like Mumbai, we have 7 stores. Interestingly, we have 2 stores in Itanagar today and they both are very successful, as much as the stores in big cities. 

What’s your scaling plan?

We plan to close the current fiscal with 75 EBOs and 100 SISs. If we look at a window of 3 years, we plan to have 300 stores and 250 SISs. In the latter format, we are retailing through some of the leading retailers like Globus, Central, Shoppers Stop and The Brand Factory. We are looking at a business growth of around 150% by next fiscal.

India has witnessed a boom in terms of lingerie brands coming into brick-and-mortar retail scene. How do you differentiate in the clutter?

Yes, there has been an increase in the number of lingerie brands and stores but even then, we are way behind than the demand. In many global markets, 4%-8% of sales of a mall comes from Lingerie while in India, it still stagnates at 1%-2%. We have positioned ourselves between the utilitarian and fancy segments and we are possibly the only Indian brand which is youth-oriented. The same vibe is translated through our retail design (designed by Restore, Bangalore) and VM. To position ourselves as the true omni-channel brand, we don’t have any physical cash counter at our brick-and-mortar stores and the entire POS is hand-held so we capture the entire customer journey across retail channels.

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