07 January 2023, Mumbai
Clovia’s revenue went up 67 per cent in fiscal year 2022 compared to fiscal year 2021. Tier II and III towns account for 60 per cent of the lingerie and innerwear brand’s business. Clovia caters to some 900 cities all over India.
Clovia started operations about eleven years ago. Bras account for some 65 per cent of its sales while its activewear category accounts for over ten per cent of its revenue in addition to the nightwear category, which accounts for over 15 per cent of the total revenue.
Clovia has more than 45 exclusive brand outlets and plans to expand the number to 130 by the end of March 2023. Currently the offline channel accounts for ten per cent of the company’s revenue. The company’s key markets are Bangalore, Delhi, Mumbai, Kolkata, Chennai and Hyderabad, apart from Patna, Ranchi, Surat, among others.
As for customer acquisition, the company is primarily focused on digital and content marketing. The overall marketing cost for the company dwells within the range of 12 per cent to 15 per cent of the revenue generated in a year. Content marketing costs are around one per cent or two percent but the impact is multifold.
