In order to increase its offline retail presence to 15 and boost its topline by 50 per cent to US $ 17.6 million by March of next year, fashion brand Powerlook has opened five new stores in three states, according to a top company executive.
With a combined retail space of 30,000 square feet, the new stores have opened in Bengaluru; Vadodara and Surat; and Ghatkopar, according to a statement from Raghav Pawar, co-founder of Powerlook.
According to the company, which is present online on various e-commerce platforms, it wants to increase its offline presence. The brand now has 13 locations across four states after opening five new stores, according to Pawar.
By the end of this fiscal year, the company hopes to have a network of 15 retail locations. “Following each store launch, sales have increased by 25–30 per cent, proving that our expansion approach is effective and yields positive results,” according to Pawar.
According to the statement, the menswear company anticipates a 50 per cent increase in revenue in the current fiscal year, reaching US $ 17.6 million, up from US $ 11.72 million in the previous one.
