Fueled by a $1million investment to open 16 physical stores, Bengaluru-based fashion-tech brand, Virgio is embarking on a significant expansion.
The brand plans to open high-street stores in Ahmedabad, Surat, Mumbai, and Delhi by June 2025. Averaging 1,500-1,600 sq. ft, these stores will follow the model of Virgio's successful M5 Mall store in Bengaluru. Additionally, Virgio plans to establish two international stores in Dubai by the end of 2025.
Expecting to close FY25 with Rs 30 crore in revenue, Virgio projects its revenues will rise 4-5 fold in FY26. The brand aims to achieve revenues of Rs 120-150 crore in FY26.
The company also plans to launch a men's wear segment online by June. Emphasizing on its efficient production process, Virgio is adding two new factories in Gurgaon, bringing its total to nine. The company aims to increase its machine count from 300 to 1,500 by FY26, boosting weekly production.
Virgio's approach to unsold inventory is a key differentiator. It retains stock for only 45 days, significantly less than the industry average of 160 days. Amar Nagaram, CEO, formerly engaged with Myntra is determined to avoid inventory challenges by focusing on efficient production and demand management.
Virgio aims to become synonymous with trendy, high-quality, and sustainable fashion. The company believes sustainability should be accessible to the masses and seeks to drive industry transformation. Backed by investors like Accel and Prosus, Virgio plans to expand its Bengaluru store footprint and currently delivers to 9,000 pincodes across India.
