Homegrown women’s wear brand Uptownie which started its operations in 2015 with seed money of Rs 80 lakh, is eyeing double its revenue to Rs 60 crore by the end of this fiscal, Shivani Agarwal, co-founder and CMO, Uptownie told ETRetail in an interaction.
The bootstrapped brand, which is planning to register 18 per cent EBITDA this fiscal like the previous year, has a retention rate of 30 per cent. It closed the last fiscal at Rs 30 crore.
Currently, it has a presence across 11 marketplaces and a D2C website and is planning to go offline in FY 24-25.
The women’s wear brand registers an average order value of Rs 1,800, while it plans to increase it to Rs 2,000 and the CAC stands at Rs 500-600.
“At present, 70 per cent of our revenue is contributed by marketplaces and the remaining 30 per cent comes from the D2C channel, however, this financial year, we are aiming 45 per cent of our revenue from the marketplaces and the remaining 55 per cent from our D2C as our D2C channel has grown 6x since the last year,” she stated.
“Next year, we are planning to open shop-in-shops at large format stores like Central, Shoppers Stop, and Lifestyle. And towards the end of next year, we plan to open our EBOs,” she further added.
The brand is planning to open its EBOs in cities like Kolkata, Bengaluru, Guwahati, and Mumbai. The stores that will be coming up in the malls will span across an area of 500-600 sq.ft.
To aid the offline expansion plans, the brand is planning to raise Rs 25 crore at a valuation of Rs 250 crore and will be diluting 10 per cent of its equity.
Next year, the brand is also planning to foray into the plus-size category. “For FY25, we are aiming for Rs 100 crore and if we raise the funds, then it can reach up to Rs 130 crore,” she stated.
