NewMe plans to launch 20 new stores by 2025, aspires for IPO in 3-5 years

Bengaluru-headquartered fashion-tech NewMe plans to launch about 20 new stores across India by the end of 2025 and is expected to go public in the next three to five years.

 

“We are looking to open about 20 stores nationwide and pushing hard for Kolkata, Shillong, Guwahati, Indore, Jaipur, and others. We aspire to file for an initial public offering (IPO) in the next three to five years,” Sumit Jasoria, co-founder & CEO, NewMe told Business Standard.

 

Jasoria highlighted that the brand aims to bridge the gap between pricing and aesthetics, focusing mainly on Gen Z.

 

“Our pricing sits between Zudio, which is nearly half our price, and H&M, which is about 50 per cent higher. On the other hand, Zara is roughly 70 per cent more expensive,” Jasoria explained.

 

“We bridge the gap between Zudio and Zara, focusing on both price and aesthetics. Essentially, we offer the Zara experience at a more affordable price,” Jasoria said.

 

Moreover, NewMe aims to become a global brand in the next 10 years. It has plans to invest in three major business categories - offline expansion, supply chain expansion with two upcoming brand factories in Bombay and Surat, and leadership team.

 

In a strategic push to elevate its brand, NewMe is introducing more premium stores to redefine its retail experience. The company’s vision for 2025 focuses on surpassing previous benchmarks with each new outlet.

 

“This year is all about taking the NewMe brand to the next level with stores that are more premium than the ones before,” Jasoria said.

 

“For us, every store must break the benchmark of the previous one. Our key learning has been that while NewMe has gained strong recognition, we need to elevate the brand further to align with evolving consumer expectations. As a result, we cannot afford to make hasty decisions when inaugurating new stores. We will be agnostic to the high street or mall, it has to either fit in revenue or brand potential,” he said.

 

Speaking about its 90-minute delivery feature, which is already present in Delhi and in pilot stage in Bengaluru with HSR and Bellandur area, the aim is to expand to other Indian cities soon. However, no definite timeline was shared.

 

NewMe's growth trajectory continues to be driven by strong regional performances, with the Delhi/NCR region emerging as the highest contributor to the company's success. Following closely behind, Bengaluru and Mumbai have shown nearly equal contributions, reflecting their robust market potential.

 

NewMe has expanded its India production six-fold over the past year and aims to further increase it by three to four times in the current year.

 

Founded in July 2022, the brand currently operates with 13 stores, 12 located in malls and a standalone store in Surat, Gujarat. The Surat outlet, spanning 3,500 square feet, serves as a key retail destination for the brand.