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S&N label of Shantanu & Nikhil is targeting the Rs. 100 crore club by March 2023.
Notably, its product portfolio consists of 70 per cent menswear, 20 per cent womenswear, with remaining 10 per cent constituting accessories.
Nikhil Mehra highlighted that the menswear segment has a very strong scope of growth with the introduction of new products in comparison to the saturated womenswear category.
Also announcing the brand’s development goals, he mentioned adding the new categories of hoodies and silhouettes as a move to expand the range of higher quality and affordable products.
ABFRL acquired a 51 per cent stake in the label in 2019.
On ABFRL’s contribution to S&N’s expansion, Mehra noted that by partnering with the company, the label has been able to leverage ABFRL’s technology and supply chain resources, which has helped S&N expand its retail network and accelerate its growth.
The label S&N has created a market segmentation of the affordable luxury category both in offline and online models.
There are a total of 15 retail outlets under S&N, consisting of nine S&N label stores and six couture stores.
The company also plans to open four additional locations in the next two months.
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