Mumbai: Online fashion retail brand KingsCraft Online Brands on Friday said it is eyeing Rs 50 crore revenue from its newly launched e-commerce platform Underrated Club in this fiscal. The Pune-based company, which started operations this year, also said it is looking to venture into offline segments as well with plans to set up 50 fashion retail stores across Tier-I cities under the new platform by March next year.
Bootstrapped with an investment of Rs 8 crore, the company has strategically positioned Underrated Club as a key player in the affordable luxury streetwear segment, it said.
“At URC (Underrated Club), we are redefining streetwear by combining innovation and sustainability,” Abhishek Teri, Co-founder of Underrated Club, said.
Underrated Club is set to expand its reach through a robust online presence and partnerships with plans to tie up with leading e-commerce platforms and establish a physical presence through retail partnerships, pop-up stores, and flagship stores in key metropolitan cities, the company said.
As part of this expansion, Teri said the company is planning to establish 50 physical retail stores under the brand in Tier-1 cities such as Mumbai, Delhi, Bengaluru, Pune and Hyderabad, among others, in the current fiscal.
Moreover, he said, the company is also looking to garner Rs 50 crore revenue from the new business in FY25 while the target is to achieve Rs 200-crore topline from the platform in the next three years.
“India is where we started. URC brings a fresh, dynamic edge to streetwear, tailored specifically for the youth. Our debut collection is just the beginning, with many more exciting ranges on the horizon. We’re also expanding our offerings to include a diverse mix of fashion elements, ensuring there’s something for everyone,” said Kartik Anand, Co-founder of Underrated Club.
