New Delhi: French Menswear brand Celio is planning to open 15 new retail outlets in the next 8-10 months, shared a top official of the company.
Satyen Momaya, CEO, Celio India told ETRetail that in the next 2-3 years, the apparel brand aims to accelerate its growth. “Half of our growth will come from like-for-like growth and the other share from expansion. In the next 24 months, we will double our retail space.”
Over the last 5 years, Celio has been aggressive in retail expansion. The company currently runs 65 standalone stores and has a significant presence in large multi-band outlets across the country. Momaya shared that the retailer has developed a new store format in its home country and planning to build that in India.
The new outlets will have a larger floor size of 200 – 300 square metres and significantly use data for curating the right merchandise assortment. Momaya said that the stores will have first-hand product displays and a self-navigating concept.
In terms of geographies, Celio is targeting the top 5-6 markets with space in malls.
Along with retail expansion, the apparel brand is focusing on brand building and plans to increase its marketing spending to about 8 per cent of its revenues compared to 6 per cent currently.
Without sharing the company’s revenue numbers, Momaya said that the brand is eyeing consistent growth at a CAGR of 25 per cent for the next 24 months.
Celio which positions itself in the premium segment, targets consumers in the age group of 24-25 years. However, in the last 2 years, the company has seen growing demand from consumers between 12 – 18 years of age. The chief executive highlighted that currently, the company drives about 18 per cent of its business from consumers below 18 years of age. Additionally, the company has been working towards achieving a shorter GTM in manufacturing to meet the consumer’s demands faster, he added.
