Puducherry—based Hidesign is targeting 25 per cent revenue growth this fiscal as it expands the product portfolio and retail presence both in India as well as overseas.
“We currently have 74 stores in the country and plan to add about 18 more this year. These stores will all be company—owned as we believe in building a brand story rather than just following a distribution model,” Hidesign Founder and President Dilip Kapur said.
The company’s revenue touched Rs 150 crore last fiscal and it expects 25 per cent topline growth this year.
“Last year, our revenues grew by about 21 per cent. Depending on how the economy performs and how spending rises, we should grow by 25 per cent this year,” Kapur said.
Hidesign has 23 stores in global markets like the US, Belgium, France, Britain, Australia, Malaysia, Vietnam and South Africa, among others, though some of them are on a partnership model.
“We are looking at expanding our overseas presence too.
Hidesign has gained brand recognition for its quality and affordability and that gives us confidence... We are also exploring the option of setting up a subsidiary in the US,” Kapur said.
Exports comprise 25—30 per cent of total sales, Kapur added.
Hidesign, which recently launched its eyewears priced Rs 3,500—4,500, is also expanding its presence across other categories like shoes and scarves.