India-based fashion retail brand Mufti, which was founded in 1998 as a menswear label, is keen on expanding its brick and mortar store space in the country. The plan is to open 40 new stores in the current year.
The brand is looking to expand into South and East Indian markets.
“We are going to add 30-40 stores this year and increase out large format stores in all the metros and in Hyderabad, Patna, and Pune. We are also planning to expand aggressively in the South and East India, where the brand is not as popular as it is in the North and West,” reportedly said Vipul Mathur, COO, Mufti.
Markedly, Mufti is also introducing its maiden athleisure range in April.
“We are launching Athleisure — a combination of activewear and casual wear. As for our clothing brand, we are running a profit and would touch Rs. 400 crore revenue at the end of FY18-19,” Mathur added.
Currently, Mufti retails via 275 EBOs (Exclusive Brand Outlets) across the nation, 1,200 MBOs (Multi-Brand Outlets), 110 LFSs (Large Format Stores like Shoppers Stop and Central) and is also present on all major e-commerce portals including its own website.