Pepe Jeans targets Rs 2,000 cr sales, eyes India as second-largest market
04 December 2023, Mumbai
Pepe Jeans London, the denim giant, targets a whopping Rs 2,000 crore in sales from the Indian market within the next two years, positioning it as the brand's second-largest market. Fueled by surging demand from youth, Pepe Jeans anticipates outpacing its sales in Spain and the UK in its Indian venture.
Pepe Jeans London plans to roll out over 100 stores across India in the next three years in an aggressive expansion move. Manish Kapoor, Managing Director and CEO of Pepe Jeans India, predicts a robust compound annual growth rate (CAGR) of 18–20 percent in India over the next three to five years. The brand is set on securing 55 percent of its business directly from sales through its channels.
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Recent years have seen Pepe Jeans strategically focus on trends and bolster its digital presence, with substantial growth from Tier II and III cities, driven by escalating disposable incomes and increased internet penetration.
Presently, 58 percent of Pepe Jeans' business originates from the top eight cities, with the rest coming from Tier II and smaller cities. With a presence in India dating back to 1988 and ownership of brands like Hackett and Faconnable, Pepe Jeans London also holds the licenses for distributing Tommy Hilfiger and Calvin Klein in Spain and Portugal.
While men's wear accounts for nearly 90 percent of its sales in India (as opposed to 65 percent in Europe), the brand is gearing up to amplify its footprint in the footwear and women's western wear categories across the country. Holding the coveted position as the second-largest denim brand in India, Pepe Jeans commands a network of over 200 branded outlets nationwide.
