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William Penn, a retailer of writing instruments and accessories, is eyeing a turnover of ₹100 crore at the end of the current fiscal.
The company is expecting the revenue following plans to expand across the country, coupled with the rising popularity of pens as an accessory in the Indian market, said Managing Director Nikhil Ranjan. He was speaking after the launch of William Penn’s brand store in Pune.
The company currently has 30 stores in nine cities across India. “We plan to open four more stores – one each at Vashi (New Mumbai) and Hyderabad and two in Bangalore,” Ranjan said.
Through its stores, William Penn sells its own brand Pennline and distributes major global brands such as Sheafer or Lamy. It also sells other accessories such as belts or clips.
Ranjan said pens are becoming an important ingredient of men's accessories and continue to be an important item in corporate gifts selection. The branded pens market in the country is worth ₹3,500 crore and is growing faster than the rest of the world, he added.
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