The Souled Store shifts focus to sneakers and women’s wear in 2024
In a bid to connect with Gen Z consumers more effectively, The Souled Store is strategically shifting its focus in 2024, placing a strong emphasis on categories such as sneakers and women’s wear. Additionally, the brand aims to expand its physical footprint by establishing 40 new stores this year.
According to Aditya Sharma, Co-Founder of The Souled Store, the brand is actively broadening its offline presence across various states to enhance customer engagement. He emphasises that the company's strategic roadmap for the next two to three years revolves around both offline expansion and diversification of its product portfolio, all while sustaining its online growth trajectory. This intensified focus on Gen Z shoppers is in line with prevailing market trends.
A report by Bain and Co. indicates that one-third of online shoppers belong to the Gen Z demographic, born in or after 1997, highlighting their significance in India's consumer landscape.
The Souled Store has effectively positioned itself as a thriving omnichannel lifestyle brand, boasting 22 retail outlets across India and a presence on leading online marketplaces like Flipkart and Myntra. The brand has expanded its offerings beyond its original niche, now including trendy casual wear, shoes, caps, umbrellas, etc.
Over time, The Souled Store has cultivated a brand identity that resonates strongly with its target audience. Sharma reveals, a significant portion, 64 per cent, of the brand’s revenue is generated through its website and mobile app. Offline stores contribute 21 per cent to the revenue, while marketplaces account for 15 per cent.
