05 December 2022, Mumbai
Khadim will open four new stores in Maharashtra. This will happen during the first quarter of the financial year 2023. The footwear and accessories brand already has a strong presence in Maharashtra with stores in Amravati, Borivali, Kalamboli, Sangli, Vashi, Vile Parle, Indira Nagar, and more.
Khadim aims at expanding its brick-and-mortar retail presence beyond Tier II and III cities and opening between 70 and 80 new stores. The brand is also eyeing Rs 800 crores in revenue in the 2023 financial year.
Founded in the 1960s, Kolkata-based Khadim is present in 23 states and one union territory with 826 retail stores.For the second quarter Khadim’s revenue from operations rose 15 per cent year on year.
Though consolidated net profit declined in the second quarter, the footwear retailer saw an increased demand for its products riding on the festive season resulting in the brand continuing its healthy business performance during the quarter.
The first festive season without the long shadow of the pandemic saw buoyant consumers with a propensity to spend higher than average. This has stimulated business growth and helped the company record a healthy number this quarter. The premium product portfolio with affordable pricing has received significant consumer response and Khadim will continue to build on the same which will appeal to the target audience.
