16 August 2024, Mumbai
The fashion house behind popular brands such as Highlander, Tokyo Talkies, Vishudh, Ketch, and Locomotive, Brand Studio Lifestyle plans to expand its offline presence.
The company has already launched physical stores for Highlander and Tokyo Talkies, shares Shyam Prasad, CEO. It plans to open 100 stores by the end of this fiscal year. This includes 50 stores dedicated to Highlander, 20 for Tokyo Talkies, and 30 combined stores featuring products from both brands.
The first phase of the expansion will involve opening of 30 stores in key regions including Gujarat, Maharashtra, Uttar Pradesh, Telangana, Andhra Pradesh, Delhi, and Karnataka. By the end of this fiscal year, Brand Studio Lifestyle aims to establish its presence in 11 states with a total of 100 stores. The average store size for Highlander and Tokyo Talkies will be between 2,000 sqft - 3,000 sqft, while combined stores will span 5,000 sqft- 6,000 sq ft. The capital expenditure for this offline expansion is set at Rs 3,000 per sq ft.
The company intends to launch 70 company-owned and franchise-operated stores, 15 company-owned and company-operated stores, and 15 franchise-owned and franchise-operated stores by fiscal year-end. It also plans to take its ethnic wear brand Vishudh offline.
Currently, Brand Studio Lifestyle introduces over 300 new styles for Highlander and over 600 new styles for Tokyo Talkies every month. The company expects its offline business to contribute 40 per cent of total revenue by the end of this fiscal year, with a future goal of achieving a 50:50 revenue split between online and offline channels.
Presently, 70 per cent of the company's revenue comes from e-commerce marketplaces, 15 per cent from its D2C website, and the remaining 5 per cent from other channels. Having recorded a gross merchandise value (GMV) of Rs 1,300 crore last fiscal year, the company aims to achieve a GMV of Rs 1,600 crore by this fiscal-end.
