Celio India to add 100 stores in the next 2-3 years: Satyen Momaya, CEO
13 December 2024, Mumbai
French men’s apparel brand Celio India plans to expand its retail footprint by adding 100 stores in the next two to three years, notes Satyen Momaya, CEO, Celio Future Fashion. The brand currently has 65 stores across 25 cities.
The brand also plans to expand into Tier II and III cities. In the last 18 months, it added nearly 20 stores to its network. The brand has identified approximately 40 malls and nine high streets for opening around 50 stores within its existing cities.
Currently, Celio’s top 11 cities currently account for 75 per cent of its business, with the South being its strongest market, followed by the North, West, and East. The brand plans to expand extensively in North India, especially in Delhi NCR, parts of Punjab, and Uttar Pradesh. Following this, it will expand in the South, West, and East, Momaya adds.
In addition to offline expansion, the apparel brand aims for multi-channel growth. Currently, the brand generates 7 per cent revenue from e-commerce platforms such as Myntra, Ajio, and Amazon, and it aims to increase this to about 14 per cent in the coming years, says Momaya.
To reduce its dependence on imports, Celio also plans to strengthen its manufacturing capabilities in India. The brand currently manufactures 50 per cent of its range through third-party vendors, while the remaining 50 per cent is imported. However, the company plans to reduce the import component increase local sourcing to 60 per cent by next year.
Moreover, Celio is shifting a significant portion of its global sourcing to India. In the last three years, it has increased sourcing from India to 7 per cent from the earlier 1 per cent, reveals Momaya.
A subsidiary of the namesake French men’s retail brand, Celio India was founded in 2009. The brand was launched in India in partnership with Future Group. It aims to increase its contribution to the global revenue to around 5-8 per cent in the next few years.
