Mumbai: Fashion brand Powerlook Apparels on Monday announced the opening of its two new offline stores in the city and said it plans to invest Rs 50 crore in expanding the number of such outlets in the country to 50 by 2027. The fashion brand currently has a presence on leading e-commerce websites Myntra and Flipkart.
“Our expansion journey begins with the opening of these two offline stores in Mumbai. While e-commerce remains pivotal, we believe in the significance of physical stores, allowing customers to engage with our products,” Raghav Pawar, Co-founder of Powerlook Apparels said in a statement.
With the addition of two new stores, the company now operates six offline stores in Mumbai and Thane and Vasai in Maharashtra.
The company plans to open 50 stores in Tier-I Tier-2 and -3 cities by 2027 and will be investing in around Rs 50 crore in setting up these stores, Pawar said.
The company has more than 700 SKUs (stock keeping units) and plans to introduce shoes, accessories, and new styles of jeans and shirts, to offer a diverse and comprehensive fashion collection to customers, Amar Pawar, Co-founder & Chief Fashion Designer said.
The company aims to achieve exponential growth in the upcoming years, building on its expected revenue of close to Rs 100 crore this fiscal, Amar Pawar said.
Powerlook’s recent presence on online platforms such as Myntra and Flipkart is expected to complement the brand’s offline expansion, further strengthening its market position, he added.
