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Interview with Pratik Agarwal

Industry Speak
Pratik Agarwal
Pratik Agarwal
Co-founder
Breya
Breya

How many collections are made in a year? How many styles in each collection?

Every year, we launch two collections-spring/summer and autumn/winter. We bring over 250 designs in each of these collections and we work around the theme for specific collections. . For example, our collection 'Tick Tack Toe', which is one of the three themes of our Autumn/Festive collection, is an ode to our childhood memories of board games such as snakes & ladder and ludo. We wanted to invoke childhood memories in our customers, when they were dressed in this attire. Similarly, we have brought Vintage gardens and Hiraeth theme collections that were a tribute to the famous gardens around the world and Indian architecture respectively.

Which price points fare well at Breya?

Majority of our collection is in the range of ₹800-1500 and this has worked quite well for us. During festive season, the price range for the festive collection increases to ₹1,500-3,500.

Which are your major markets?

We have diversified our markets quite a bit in the past 12 months. From having three stores in Hyderabad, we have now expanded to seven more cities like Bhubaneshwar, Bhopal, Jamshedpur and Guwahati. In addition, we are very strong in the south, east and north-east markets through our presence in MBOs channel.

What has the sale been like on your website vis-a- vis the other marketplaces?

Online sales currently contribute 15-20 per cent of our total volume.

Which SKU moves faster in Indo-Western clothing for women?

Kurta is the largest category for us, contributing more than 50 per cent of sales. In addition, we are seeing good traction in dresses, tops and tunics, and fashion bottoms as well.

What are your advertising, marketing and promotion plans? What is the budget?

We are currently engaging with customers through social media platforms and in-store experiences. At some stage, we will explore celebrity endorsements and do city-level campaigns. Our marketing budget is 5-10 per cent of our sales.

Are there any promotions planned since the market is so crowded?

Given the crowded market, we are focusing more on the quality of campaigns and content being used for marketing, so that it is engaging and relatable for the target audience.

What is the projected turnover by 2020?

We are growing three to four times every year. We will continue building our presence across channels in a qualitative and profitable manner.

How has your performance been in the last two fiscals and what are your expectations for the next two?

We have grown by almost ten times in the past two years and expect to continue growing at three to four times every year for the next three years.

What are the challenges that this industry faces?

Steep online discounts and availability of quality retail space are the key challenges that the industry is facing today.

What are your future plans? Do you plan to explore any new markets and expand your product offering? Do you plan to open a brick and mortar store soon?

Over the next 24 months, we plan to open 50 additional outlets to expand presence to 20-25 cities. We have also built a distributor network across key states to target large multi-brand outlets.

In addition, we will continue to build our presence in the MBO channel and online vertical. We are also looking to partner with large format stores in the near future. 

We plan to increase the depth of our current product offerings over the next 24 months, rather than venture into other product segments. (HO)

Published on: 16/10/2018

DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.

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