Fashion-tech brand Virgio aims to invest $1 mn across 16 stores under plan

Virgio, a Bengaluru-based fashion-tech brand, aims for significant growth with a $1 million investment to establish 16 stores as part of its expansion strategy. It also targets a revenue of Rs 120-150 crore in FY26.

 

"We have finalised high-street store locations in Ahmedabad, Surat, Mumbai, and Delhi, set to open by June 2025. We aim to expand rapidly, with stores averaging 1,500-1,600 sq. ft. Inorbit Mall Vashi, Navi Mumbai, is a key consideration. Our M5 Mall store in Bengaluru serves as a model for expansion,” said Amar Nagaram, co-founder and chief executive officer (CEO), Virgio.

 

On the international front, the fashion-tech brand plans to open two stores in Dubai. It is currently scouting locations and aims to begin operations by the end of 2025.

 

 

Nagaram also stated, "Virgio is set to close FY25 with a revenue of Rs 30 crore and aims to grow 4-5 times in FY26, reaching Rs 120-150 crore. Additionally, we plan to launch the men's wear segment online soon, with approval slated to come by June."

 

Discussing the production process, Nagaram emphasised, “The brand sources fabric and designs multiple collections using the same materials. We procure fabrics from mills in Surat, Tirupur, and various parts of North India.”

 

Moreover, the brand is expanding its production capacity by adding two more factories in Gurgaon, increasing the total to nine. Currently, it produces around 5,000 pieces per week across all facilities—Noida, Bengaluru, Jaipur, Ludhiana, and Tirupur. With 300 machines in operation, the company aims to scale up to 1,500 machines by the end of FY26.

 

Discussing unsold inventory, the company retains stock for 45 days, significantly lower than the market average of 160 days. Former Myntra CEO Nagaram stated, “My priority was addressing Myntra’s unsold inventory. While we found a solution, I was determined not to face the same challenge again. That’s when we realised the fashion industry bets on the future.”

 

Commenting on the vision, Nagaram said, "In the next 3-5 years, we want Virgio to be synonymous with trendy, high-quality fashion. As the line between fashion and sustainable fashion blurs, we believe sustainability must become more accessible to the masses. Our goal is to lead this shift, proving that fashion can be both stylish and sustainable, driving a meaningful industry transformation."

 

Backed by investors like Accel and Prosus, the company plans to expand its Bengaluru store footprint from 40 to 250-300. Virgio, with its major presence online, delivers across 9,000 pincodes as of today.