Blackberrys to open 100 new stores this fiscal

Menswear brand Blackberrys is eyeing 25 per cent growth in turnover and touch Rs 1,500 crore by 2020 on the back of retail and portfolio expansion. The company, which operates three brands Blackberrys, Blackberrys Causals and Urban plans to add 100 new stores this fiscal.

The company reported a turnover of Rs 720 crore in the previous fiscal. It operates around 205 standalone company operated stores and is looking at opening 70 more outlets this fiscal.

Presently, exclusive stores contribute almost 50 per cent in terms of sales volume, while the rest comes from multi brand outlets and other channels. It also retails through over 1,000 multi-brand outlets. Among the 100 new stores, which the company plans to open this fiscal, 35 will be company owned and 65 would be franchise operated. The company is planning to push towards southern markets with its three brands.

Blackberrys, which launched a new casual wear brand Blackberrys Urban targeting people in the age group of 25-40, said the company will expand its product portfolio.