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Friday, 2 November 2018

Universal Sportsbiz to open around 1k stores, eyes Rs. 1,000 cr revenue by 2021

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Celebrity fashion company, Universal Sportsbiz Pvt Ltd. (USPL), which is backed by former Indian cricketer Sachin Tendulkar is targeting a turnover of Rs. 1,000 crores in the next three years. The company recently secured a fresh funding of US $ 13.5 million during its fifth round of funding led by Accel Partners.

It is pertinent to mention here that, USPL has brought celebrities closer to their fans by launching brands in association with popular celebrities like, Virat Kohli for ‘Wrogn’, Kriti Sanon for ‘Ms Taken’ and others.

The celebrity-led fashion retailer registered a revenue of Rs. 150 crores last year and is anticipating to double its numbers in the current fiscal year. The company also affirmed a leading media house that it is expecting to triple its revenues by 2021.

Anjana Reddy, CEO & Founder, USPL elucidated that “the focus for the coming 2-3 years will be on boosting the number of stores across metros, along with the Tier II and III locations as we have not even scratched the surface yet.”

The CEO further added that the company currently operates over 300 stores spread across 50 cities in the country and it is eyeing to expand its presence to over 1,300 stores in the same region by the end of 2020.

Furthermore, the India-based fashion retailer is also targeting to expand its brand portfolio and invest in the latest technology in a bid to modify its business.

The company operates some of the leading fashion labels like Wrogn, Imara and Ms Taken and under its Wrogn brand led by current Indian cricket captain Virat Kohli, the retailer forayed into the footwear segment and witnessed a positive response from the customers.

Considering the customer base of its brands, the fashion retailer is expecting to launch accessories such as backpacks for its Wrogn brand and introduce footwear for its ethnic womenswear brand, Imara.


Source: https://in.apparelresources.com