- Shubhangi Bidwe |
Cover Story, the fast fashion brand owned by Kishore Biyani’s Future Style Lab, has partnered German fashion brand Karl Lagerfeld to roll out its first premium special edition collection of women’s ready-to-wear apparel and accessories in India. The aim is to drive growth for Cover Story. As a part of this partnership, Cover Story will open 1,500 to 2, 500 sq. ft. stores housing Karl Lagerfeld’s collection in cities like Ahmedabad, Bengaluru, Delhi and Mumbai. The brand, which reported retail sales of over Rs 90 crore in FY19, aims to cross Rs130 crore in sales this year. The women’s western wear brand, launched in April 2016, targets consumers aged 22-40 years and differentiates itself from rivals H&M and Zara by designing clothes that suit an Indian woman’s body type.
Apart from brick-and-mortar stores, Cover Story also sells through e-commerce websites such as Myntra, Jabong, Koovs and the brand’s own website. Currently 15 per cent of its overall sales come from e-commerce platforms which it expects to grow further in the next five years.