Last updated : February 12, 2021 10:56 am
The brand looks forward to expand its presence in more tier 2 and tier 3 cities in order to cater to the elevating demands for branded cosmetics among these areas.
With a goal of 300% revenue growth this year, the brand aspires to achieve it through product portfolio expansion and expansion in rural regions.
Darpan Sanghvi, Founder and CEO, MyGlamm, mentioned, “Today, we have 4,000 points-of-sale across 50 cities of India. In 2021, these 50 cities will become 100 cities and points of sale will go from 4,000 to over 10,000.”
“We are in an exciting place where we are growing, January to December 2019, we grew about 400%. As we have become profitable as a company, we don’t require too much capital. The capital we require is primarily for inventory build-up, working capital needs and offline expansion,” Darpan added.