16 February 2023, Mumbai
For the third quarter Rupa’s net profit fell by 91 percent. The company’s revenue for the quarter was down by 46 per cent as against the corresponding period of the previous fiscal year.
Despite the poor performance in the third quarter Rupa is optimistic of posting strong numbers in the coming quarters and is expecting revenue to grow five times by fiscal year 2024 from fiscal 2022. The company will roll out 150 more exclusive brand outlets in the next two years.
There will be a focus on new emerging markets to double current exports and increase share in the premium category. Additionally Rupa also plans to launch in the global online market of UAE and increase brand presence across 1000 plus point of sales in the next two years.
Rupa is one of the largest knitwear brands in India that produces innerwear, casual wear, thermal wear, and sleepwear for men, women, and kids. The brand is looking to strengthen its focus on modern trade channels even as it looks to grow its turnover.
Modern trade outlets contribute ten per cent of the company’s total topline and have been clocking double-digit growth. Rupa’s expansion strategy continues in the quest to strengthen its retail footprint nationwide.
