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Thursday, July 25, 2024

Lifestyle brand Xyxx aims for 50% to 70% growth in FY24

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Men’s lifestyle brand Xyxx is targeting between 50% and 70% growth this financial year and expects to see around 50% year-on-year growth annually for the coming 10 years. The brand plans to continue to expand both its exclusive brand outlets and presence across modern trade. 

Xyxx specialises in men’s inner wear – Xyxx- Facebook

“We’ve always. Been essential wear- inner wear and lounge wear- brand and our 96% to 97% of revenue comes from these categories,” said Xyxx’s founder Yogesh Kabra, ET Retail reported. “Recently, the categories that we’ve launched are a little more towards outerwear and as we will inch closer to the summer season, we plan to double down on the athleisure wear.”
 
The brand recently opened two new brick-and-mortar stores in Surat and in Infiniti Mall Malad. Xyxx plans to open between 15 and 20 new stores by the 2025 financial year to bolster its retail presence across the country, according to Kabra. 

All of Xyxx’s stores are currently company operated and company owned. The brand also has a retail presence in around 250 multi-brand stores, planning to increase this by 300% across modern trade by the 2025 financial year, ET Bureau reported. 
 
“As far as exclusive brand outlets are concerned, we currently have five exclusive brand outlets,” said Kabra. “We are not fixated on hitting a number of stores milestone, however, we focus more on operating profitability per store.”

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