As per Vasant Nangial, CEO, Chumbak , the lifestyle and home décor brand is witnessing a revival in demand and business is returning to normal across physical stores, the company''s confidence of getting back on the growth track in FY22. In FY19-20, Chumbak recorded a 20-22 per cent increase in revenue over previous year. While its FY21 numbers are likely to be impacted by the pandemic and lockdown, they are not likely to decline, Nangial said.
He expects, the company will be back on growth track in FY22. Currently it has about 70 offline stores across the company and also sells products - spanning 12 categories including stationery and souvenirs, apparel, kitchenware and home decor. Chumbak plans to get back to normalcy before it starts aggressively expanding offline presence later in the year. It is also exploring the international market in a small way.
The company’s home décor category is likely to grow to 50-60 per cent of its business in future. Nangial says, this growth will be driven by trends like people spending a considerable amount of time at home. Popular for its quirky designs in apparel and accessories, Chumbak recently announced actor Sara Ali Khan as its first brand ambassador for its home and watch categories.