Australia-based womenswear brand Forever New plans to double its store count in Tier 1 and 2 cities in India. The brand also plans begin to open exclusive brand outlets in Tier 3 locations in the coming two years to boost revenue.
“We are on a very promising trajectory of sales and market share growth accompanied in equal measure by a handsome increase and rate of growth in profitability,” said Forever New’s country head Dhruv Bogra, India Retailing reported. “Our vision is to grow the brand four-fold over the next five years and we are on that path to sustaining our current position of one of the most desirable and aspired for womenswear brands in India.”
With a current exclusive brand outlet total of 40 stores in 20 Indian cities, Forever New plans to double its Tier 1 and 2 city store total from 14 in the coming two years, India Retailing reported. The brand also plans to begin to open stores in Tier 3 locations in the same time frame to tap into the growing demand for branded apparel in more rural locations.
The brand aims to be present on most highstreets and in most major malls in metro and Tier 1 locations. Forever New also retails through shop in shops in multi-brand stores including Kapsons and Shoppers stop and will soon launch in select Lifestyle stores.
Forever New is headquartered in Melbourne, Australia and is positioned as a bridge to luxury brand in the Indian market. The label is prioritising omni-channel expansion and recently partnered with Unicommerce to strengthen its online and offline capabilities.
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