India-based ethnic wear brand Fabindia is considering to take the omnichannelretail route to grown in the fashion retail market.
The brand will also be tapping e-commerce to drive sales in the time to come.
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The fashion retail brandwill open 50 franchise outlets, 30 experience centres and 20 company-owned Fabindiastores in the next financial year.
“Along with adding stores, we are also focusing on driving our sales through e-commerce and omnichannel platforms. Right now e-commerce contributes to around a mid-single-digit to our overall revenue, and it will grow rapidly. In the coming year, we will see visibly significant growth as we go along,” said Fabindia Chief Marketing Officer Karan Kumar.
The move will further boost its retail business in India.
Markedly, Fabindia reported revenue of Rs. 1,060 crore for the fiscal year 2017-18,down 42 percent in profit to Rs. 59 crore.
Currently, there are more than 290Fabindiastores across 105 cities in India and 10 experience centres.