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Thursday, 13 September 2018

Spencers’ fashion label 2Bme to launch 12 exclusive outlets by 2019, eyes Rs 300 cr revenue

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2Bme, fashion brand owned by India-based multi-format retailer Spencer, is eyeing to boost its apparel business by launching exclusive brand stores across the country by the end of 2018. The Indian retailer will open 12 exclusive brand outlets (EBOs) in Tier I & II locations in the coming 12 months and expects a business of Rs. 300 crore by the end of FY ‘21.

Reportedly, the brand, which roped in Bollywood stars Ranbir Kapoor and Shraddha Kapoor as their ambassadors, has been doing well and managed to register sales worth Rs. 100 crore in its first year.

Shashwat Goenka, Sector Head, Spencer’s Retail Ltd. said, “At least, 10 to 12 standalone stores or EBOs have been planned over the next 12 months across 5-6 cities.”

The retailer will look to enhance its presence with outlets at high-street and mall, taking the spaces on rent. “Once we get scale and a stronger footing for the brand in the market, then we are also going to extend our offerings via e-commerce platforms and other marketplaces,” Goenka added.

Notably, the fashion label which came into existence earlier this year, offers a varied assortment for kidswear, menswear and women’s wear. The company is at present, available in Spencer’s 39 hypermarket formats.

Source: https://in.apparelresources.com

    
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