28 November 2024, Mumbai
Online-first fashion brand, Newme plans to increase its store count to 70 by the Dec ’26. Of this, 45 stores will be opened by Dec’25 and 20 stores by FY24-end. The brand plans to open two stores within the next 30 days across Gurugram and Pune. The brand currently has eleven stores across nine cities.
According to Sumit Jasoria, Co-founder, Newme, the brand’s store sizes range from 2,500 sq. ft. to 3,500 sq. ft. The capex varies depending on the store, with flagship stores having a higher cost. The cost typically ranges from Rs 80 lakh to Rs 1.2 crore per store.
While most of the brand’s stores are currently in malls, its first store in Surat is located on a high street. The brand is currently expanding into both Tier I and II cities.
Besides offline expansion, Newme also plans to focus on strengthening its supply chain in India by setting up its own factories in the country. It also aims to expand its technology and data science teams to drive innovation within the company.
