Homegrown women’s wear brand Uptownie, which initiated operations in 2015 with an initial investment of INR 80 lakh, is targeting a revenue of INR 60 crore by the end of this fiscal year, as stated by Shivani Agarwal, co-founder and CMO of Uptownie.
The self-funded brand, aiming to achieve an 18 percent EBITDA this fiscal year, mirroring the previous year’s performance, boasts a retention rate of 30 percent. It concluded the last fiscal year with a total of INR 30 crore.
At present, it maintains a presence on 11 marketplaces and operates a direct-to-consumer (D2C) website. There are plans to establish an offline presence in the fiscal year 2024-2025.
The women’s wear brand currently records an average order value of INR 1,800, with intentions to raise it to INR 2,000, while the customer acquisition cost (CAC) ranges between INR 500 and INR 600.
“At present, 70 per cent of our revenue is contributed by marketplaces and the remaining 30 per cent comes from the D2C channel, however, this financial year, we are aiming 45 per cent of our revenue from the marketplaces and the remaining 55 per cent from our D2C as our D2C channel has grown 6x since the last year,” she stated.
“Next year, we are planning to open shop-in-shops at large format stores like Central, Shoppers Stop, and Lifestyle. And towards the end of next year, we plan to open our EBOs,” she further added.
The brand intends to establish Exclusive Brand Outlets (EBOs) in cities such as Kolkata, Bengaluru, Guwahati, and Mumbai. The forthcoming mall-based stores are anticipated to cover an area ranging from 500 to 600 sq.ft.
To support its offline expansion strategy, the brand is preparing to secure INR 25 crore at a valuation of INR 250 crore, involving a 10 percent equity dilution.
Next year, the brand is set to expand its offerings by entering into the plus-size category.
“For FY25, we are aiming for INR 100 crore and if we raise the funds, then it can reach up to INR 130 crore,” she stated.