Usha International is targeting 50 per cent sales growth this fiscal driven by expansion of offline sales points, mainly in regional markets, and increased business volumes from e-commerce platforms.
The company, which had a turnover of Rs 2,200 crore, has made its products available in over 450 regional stores and plans to increase it to over 600 by the year-end.
Usha, which currently sells through Amazon and Flipkart, is in talks with Paytm and Urban Ladder and is also evaluating options with Myntra and Infibeam for selling its products.
"We would be adding Paytm and Urban Ladder and would also be evaluating options with Infibeam and Myntra, as we are increasing the contribution of our products by 10 per cent YOY in online sale," Usha International Vice President-Retail Head Kapil Kohli told PTI.
For its brand Usha Joy Stores, he said the company will open 15 such stores by end of this financial year.
On investment, Kohli said the company will be pumping in 5 per cent of the total turnover into expansion.
"The CAGR in the industry is 15-18 per cent, so if we are planning to grow by 50 per cent plus, then it is because of the expansions only," Kohli said.
The company has 60 exclusive stores, four joy stores apart from presence in regional brick and mortar stores and large format retail stores like Reliance.
"We would be investing 5 per cent of the total revenue for the capital and retail expansion," he added.
With regard to modern retail shops, Kohli said the company has added Hypercity and Vishal Mega Mart this year and is planning to add around 38 more large format retail stores.
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