Kazo, a homegrown fashion brand, is betting big on the accessories category with the recent launch of its new brand, Kazo Details. Founder and MD Deepak Aggarwal revealed that the company has unveiled two stores for its latest brand, offering a variety of bags and accessories.
Kazo Details plans to expand its offerings by introducing scarves, beanies, and sunglasses soon.
“In India, there is a significant gap in this area. There aren’t any major competitors providing similar prices for high-quality goods. Thus, we want to open three more Kazo Details stores this fiscal year in addition to ten kiosks,” he said.
Furthermore, he elaborated, “Additionally, we intend to inaugurate 12 new Kazo stores.”
Continue Exploring: Kazo Fashion expands reach with new store opening in Noida’s DLF Mall of India
Currently, the company boasts over 185 points of sale across the country, including more than 65 exclusive brand outlets (EBOs) and over 120 shop-in-shops.
“We’ve allocated INR 25 crore for our expansion plans, covering investments in new store openings, kiosks, inventory, and recruiting fresh talent,” he emphasized.
Currently, the capital expenditure (CAPEX) required to establish an Exclusive Brand Outlet (EBO) for the bootstrapped company is INR 70 lakh.
The company additionally sells its products through its direct-to-consumer (D2C) website, as well as other online marketplaces such as Myntra, Ajio, Tata Cliq, and Nykaa.
“At present, 80 percent of the company’s revenue is generated from offline stores, 15 percent from marketplaces, and the remaining 5 percent from our direct-to-consumer (D2C) website,” he emphasized.
With an EBITDA profitability of approximately 10 percent, the company concluded the previous fiscal year with revenue of INR 150 crore and aims to reach INR 200 crore by the end of this fiscal year.
“By the end of this fiscal year, we anticipate Kazo Details to contribute 15 percent of our total revenue,” he concluded.
Continue Exploring: KAZO Fashion expands its retail network with a new store in New Delhi
