Fashion brand Powerlook has opened five new stores in three states as it looks to expand its offline retail footprint to 15 and a 50 per cent jump in topline at Rs 150 crore by March next year, a top company executive said on Tuesday.
The new stores have come up in Ghatkopar in Mumbai (Maharashtra), Vadodara and Surat (Gujarat) and Bengaluru (Karnataka) with a total retail area of 30,000 sq ft, Powerlook co-founder Raghav Pawar said in a statement.
The company, which has an online presence across e-commerce platforms, looks to expand its offline presence, it said.
With the opening of five new stores, the brand has expanded its footprint to 13 locations in four states, Pawar said.
The company is aiming to have a network of 15 retail stores by the end of this fiscal, Powerlook said.
“Sales have grown by 25-30 per cent after each store opening, demonstrating that our expansion strategy is well-executed and result-driven,” he said.
The men’s fashion brand expects a 50 per cent rise in revenue in the current fiscal to Rs 150 crore against Rs 100 crore in the previous financial year, the statement said.
