New Delhi: Brune & Bareskin, a bespoke luxury leather brand is expecting to reach Rs 25 crore in revenue by the end of this financial year 2023-24 as it plans to expand its offline presence, said Tabby Bhatia, director of the company in an exclusive interview with ETRetail.
The bootstrapped company has seen consistent revenue growth over the last few years. In the previous fiscal 2022-23, its revenue stood at Rs 15.7 crore; in FY2021-22, it was at Rs 8.8 crore; and in FY2020-21, it stood at Rs 3.5 crore, as the company shared.
Speaking about the sales contribution from online and offline channels, Bhatia shared that 60 per cent of its overall business comes from its e-commerce website Voganow.com. And its offline stores contribute to the rest 40 per cent of the business.
Further, he highlighted that the footwear category contributes 65 per cent to its overall sales and the rest of its sales come from travel bags, jackets, smaller accessories, and related products.
Currently, the brand maintains gross margin ofabout 35-40 per cent.
The leather shoe and accessories brand provides options to personalize and customize all its products for the consumers, Bhatia expects these to be the growth drivers for the brand. Also, it recently expanded its portfolio with women’s shoes and bags.
The brand presently has three stores in cities including Jalandhar, Delhi, and Ludhiana. It expects to add 2 more company-owned and company-operated stores by this year’s end.
In the next two years, it plans to open 50 stores following an omnichannel approach to grow its business. Further, it hopes to reach international markets within two years and become an international premium luxury brand from India.
Talking about its manufacturing and the material used, Bhatia shared that the firm manufactures its products in its Jalandhar facility. It uses imported leather with a patina finish for making most of its products.
Previously, Brune & Bareskin had tied up with Reliance Corporate, BCCI and IPL teams including CSK and KKR.
