Citykart to open 15 new stores in FY25

 24 January 2025, Mumbai

A leading affordable fashion retailer, Citykart is aggressively expanding its footprint across India's Tier II and III cities. With an aim o become the go-to destination for budget-conscious families, the retailer aims to open 15 new stores in at least 10 new cities in the next fiscal year.

Citykart currently operates 127 stores in 89 cities, including key markets in Uttar Pradesh, Bihar, Delhi, and the eastern regions. It plans to increase this store count to 150 by the end of the current fiscal year.

In FY24, Citykart’s revenue increased by 20 per cent to Rs 628 crore compared to Rs 524 crore in the previous year. The company’s EBITDA margins also improved from 3.9 per cent to 6.1 per cent. In the current financial year, it aims to achieve revenues of Rs 950-1,000 crore with projected EBITDA margins of 8-9 per cent.

Same-store sales growth for Citykart currently stands at 13 per cent, driven by a 7-10 per cent increase in foot traffic in smaller markets and improved conversion rates attributed to a refined product assortment. The brand is emphasizing on attracting more customers and fostering repeat business rather than solely focusing on increasing average selling prices, which currently average Rs 330.

Sudhanshu Agarwal, Director of Citykart, states, committed to redefining the shopping experience, Citykart aims to make fashion accessible, affordable, and aligned with modern consumer preferences. The brand aims to build a strong foundation for long-term growth besides supporting the transition towards organized retail by integrating innovative backend solutions and enhancing its product offerings.

Citykart currently offers men's wear, women's wear, kids' wear and accessories and general merchandise. The brand is expanding its general merchandise category to include new subcategories like cosmetics to better cater to customer needs.

Citykart is also making huge investments in its back-end operations, including warehouse infrastructure, supply chain management, and inventory management systems. These investments will help the brand improve operational efficiency and effectively support the growing network of stores.

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