Bonkers Corner to establish new Rs 60-crore facility in Maharashtra

A streetwear brand launched in 2020, Bonkers Corner plans to invest Rs 60 crore to establish a new sustainable manufacturing facility in Murbad, Maharashtra.

Expected to be operational within the next two years, the new manufacturing unit will span a across 600,000 sq ft.

Occupying 200,000 sq ft, the current manufacturing facility produces 200,000 pieces per month. The new faculty will increase this capacity to 400,000 pieces per month, states Shubam Gupta, Founder.

In addition to its online presence, Bonkers Corner also plans to invest an additional ₹40 crore to support its offline expansion plans.

The brand currently operates 13 stores – three in Pune, three in Mumbai, and one each in Guwahati, Ahmedabad, Surat, Hyderabad, Bangalore, Indore, and Lucknow. It plans to open 15 new stores in the upcoming fiscal year, focusing on North India.

All of the brand's stores are company-owned and company-operated. Its average store size ranges from 2,500 to 3,000 sq ft, and the capital expenditure (CAPEX) required to open one store is Rs 2.5 crore, explains Gupta.

Currently, the brand's direct-to-consumer (D2C) website accounts for 60 percent of its revenue, marketplaces contribute 10 per cent, and retail stores generate the remaining 30 per cent.

Presently, the brand offers oversized t-shirts, bottom wear, and a premium collection. Moving forward, it plans to expand into new categories, including women's wear, such as dresses, shirts, and denim, adds Gupta.

Currently, bottom wear accounts for 60 per cent of the brand's revenue, while t-shirts contribute the remaining 40 per cent.

Having experienced a 50 per cent Y-o-Y growth, Bonkers Corner has an EBITDA profitability of 16 per cent. The bootstrapped brand closed the last fiscal year with Rs 100 crore in revenue. This year, it plans to increase revenues to Rs 140 crore Rs 200 crore by the end of the next fiscal year.

Over the next two years, the brand also plans to expand internationally, starting with Dubai and Gulf countries, adds Gupta.