Sneaker and streetwear retailer Veg Non Veg expects to reach a revenue total of Rs 175 crore by the end of the 2025 financial year. The business is investing in expanding its brick-and-mortar footprint and private label clothing line.
“With the new doors opening and focus on growing a larger and more diverse customer base, we are confident to meet our targeted revenue,” Veg Non Veg’s co-founder Abhineet Singh told ET Retail. “Apart from this, in the next few years, we see the sneaker market growing from $2.5 billion to $40 billion. We are confident that if we make the right kind of investments and work towards expanding our market, we will grow creating an industry.”
Veg Non Veg currently retails from three stores in India as well as its e-commerce store. The business plans to invest Rs 20 crore in further retail expansion in the country and open a further three outlets by the end of the 2026 financial year.
The business reported a revenue total of Rs 85 crore in the 2023 financial year and has projected a revenue total of Rs 110 crore for the 2024 fiscal year which ends in March. Veg Non Veg sees 65% of its sales come from online retail channels at present and it retails around 30 footwear, clothing, and accessories brands.
In 2021, Veg Non Veg launched its private label with a clothing line and has since diversified its products to include jewellery, according to its Facebook page. The brand plans to continue to expand its product offering and is looking into the collectibles market.
Copyright © 2024 FashionNetwork.com All rights reserved.
