Model Studio Way of life eyes Rs 2,000 crore GMV by FY24 finish, plans offline launch
Model Studio Way of life goals to attain a gross merchandise worth of Rs 2,000 crore by the tip of the 2024 monetary yr. Tokyo Talkies’ dad or mum firm additionally plans to deliver its quite a few vogue manufacturers offline with retailer launches within the coming few years.
Screenshot from Model Studio Way of life’s web site – Model Studio Way of life
“We attained a gross merchandise worth (GMV) of Rs 1,300 crore in fiscal yr 2023 and are at present anticipating closing FY24 with a GMV of Rs 2,000 crore,” Model Studio Way of life’s founder Shyam S Prasad advised India Retailing in an interview.
The enterprise plans to enter the offline market within the coming two to 3 years and can open large-format shops throughout India to achieve new buyer demographics and enhance model visibility. Model Studio Way of life additionally plans to proceed to develop within the on-line market to attach with consumers throughout the globe and can pursue licensing partnerships to broaden its attain.
E-commerce is at present Model Studio Way of life’s major distribution channel and the enterprise’ manufacturers can be found on multi-brand platforms together with Ajio, Amazon, and Myntra amongst others in addition to its personal direct to buyer e-commerce retailer. Greater than 65% of Model Studio Way of life’s clients come from Tier 1 and a pair of cities and the enterprise focuses on Gen Z shoppers.
Model Studio Way of life relies in Bengaluru and runs the manufacturers Tokyo Talkies, Highlander, Vishudh, Ketch, Locomotive, and Hoop, based on its web site. The enterprise was launched in 2015 and has served over 300 million clients.
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