Mufti looks to double turnover in 5 years, targets young customers

Mumbai-based menswear apparel brand Mufti is looking to double its Rs 450-crore turnover in five years on the back of its latest store revamping measures. 

Beginning with its Ahmedabad outlet, the Mumbai-based brand has overhauled the store’s interior design in a bid to target young customers. 

The company recently launched its new concept store in Ahmedabad across 1,500 sq ft that houses the complete range of Mufti’s latest collections.

With a strong focus on providing progressive fashion to its customers, the brand seeks to go global with Indian roots.

According to Kamal Khushlani, founder and managing director (MD) of Mufti, given the brand’s roots in Mumbai, the revamped store’s interior design is defined by iconic visual elements. 

“Recognised as the pioneer of fostering an alternative choice to our lifestyle, the brand has internalised the spirit of Mumbai. It has done so by weaving vivid landmarks of the city into the overarching theme of the store,” Khushlani told Business Standard.

Currently, Mufti has 307 exclusive branded outlets (EBOs), 110 large format stores (LFS) and 1,000 multi-branded outlets (MBOs). While its 304th EBO store was Mufti’s first new concept store in Ahmedabad, it has been renovating existing stores based on the new concept even as it is opening new stores. 

“We are targeting to open around 30-odd stores in a year. This year, we are looking towards opening another 25. By the end of March 2020, we will have 325 exclusive stores. We are also looking at opening flagship stores from 1,500-2,000 sq ft. An average Mufti store today is 700 sq ft while we intend to take it to the range of 900-1,100 sq ft,” Khushlani added. 

In terms of products and categories, Mufti’s product portfolio consists of shirts, jeans, cotton pants, T-shirts, blazers and winterwear. 

However, Mufti recently forayed into the footwear category, across more than 100 stores, to provide alternative choices in the casual and sports lifestyle segment. Currently, its bestselling category is shirts, followed by jeans and outerwear. 

“We have been growing at a steady pace. Last year, we clocked a turnover of Rs 395 crore. This year, we will close at about Rs 440 crore to Rs 450 crore,” said Khushlani. 

Meanwhile, given the rising demand, the brand has recently forayed into the footwear market. “We forayed into this market as we saw an increase in demand for casual lifestyle shoes,” added Khushlani.