New Delhi, Jan 26 (PTI) Fashion jewellery brand Voylla plans to expand its presence to 500 retail points by December 2019 as it eyes a larger play in tier-I and -II cities across the country. Also Read - Monsoon Session Day 2: Lok Sabha Passes Essential Commodities Bill to Raise Farmer Income, Boost Agri Sector | Highlights
The company, which started as an online player in 2012 and ventured into offline retail in 2015, now has 240 retail points. Also Read - Act of Compassion: Kerala Doctor Takes Care of Baby For a Month After Parents Test COVID-19 Positive
“We are looking at doubling our retail presence and by December 2019, we expect to have 500 stores. These will include standalone stores as well as retail presence in large format retail stores,” Voylla founder and CEO Vishwas Shringi told PTI. Also Read - 'Jammu And Kashmir to Reopen For Tourism Soon', Says J&K Administration
He added that the company is keen to tap the Rs 1,800 crore-opportunity in fashion jewellery category in India.
Shringi said the company is looking at doubling its revenues to Rs 300-400 crore in two years and break-even in 2018-19.
As part of its retail expansion, the company would also be adding more ‘Dare’ outlets that cater to the men’s jewellery and accessories segment.
“We ran a pilot and found that our male customers found it more comfortable via standalone stores. So, we are expanding this concept as well and expect 20 per cent of our outlets to be ‘Dare’ stores,” he said.
Voylla currently has two such ‘Dare’ stores in the country — Cochin and Noida.
Dare, which offers men’s accessories like neckpieces, bracelets and rings, already accounts for 30 per cent of Voylla’s topline.
This is published unedited from the PTI feed.