Hrithik Roshan-backed fashion brand HRX is eyeing Rs 500-crore turnover by 2020 from its apparels and footwear section, fuelled by expansion in product categories and offline presence this year. About seven will be launched by the end of this year. The company, which is co-owned by Hrithik Roshan and Exceed Entertainment, is looking to foray into personal care, sunglasses and backpack categories.
HRX has an exclusive association with Myntra and clocked in a revenue of about Rs 100 crore last year. The company which sells its products online is chalking out its calendar to expand in the offline space through multi brand outlets (MBOs) and exclusive brand outlets (EBOs).
The process of identifying the right retail partners for MBOs and availability of the right locations for EBOs has begun. The company recently launched HRX workout and MI HRX fitness band marking its entry into the physical fitness space and is exploring to enter into various new categories to augment its brand. Last year it had signed a Rs 100-crore deal with health and wellness startup cure.fit, which included the actor's stake in the company and HRX's specialised workout plan introduced across Cult fitness centres operated by cure.fit.
Managing Director and HRX co-founder Asfar Zaidi says the brand received an encouraging response for its Cult programmes and is looking to expand pan-India by setting up more than 500 Cult centers across 15 key markets.