“We Are Looking To Open Ten Stores By Next Financial Year”: Vikash Gupta
In an exclusive conversation with Vikash Gupta, CEO & Founder, Three Sixty sheds light on the growth strategy of the brand.BY Shipra Srivastava | March 19, 2018 | comments ( 0 ) |
Tell us about the brand Three sixty? How the brand gets concertized?
Three sixty, an Indian luxury Leather brand, established in the year 2009. Since its inception Threesixty is giving its customers a unique experience to live the leather life. The brand deals in 6 different categories i.e home Decor, accessories, seating, bars, table and storage.
Kindly shed light on your current distribution?
We have two kinds of formats including concept stores or fully fledged stores. As of now, we have one large format store spread across 4000 sq.ft., at Sultanpur, Gurgaon and two concept stores located in the posh locality of GK1 and Promenade mall in the capital city. Also, we have exclusive presence in Varodara and Pune city.
How many stores the company is looking to open? Also, what would be the ratio of franchised stores?
We are looking to open ten stores by next financial year. Going forward, we would be scouting suitable partnerships in different cities, so there would be a healthy mix of company owned and franchised stores. Also, going forward we would continue to open at premium locations of the city.
Kindly also shed light on your price points for your offerings?
We are an affordable luxury brand, so our pricing is premium; however, we are way below priced to any leading leather brand.
Going forward, what are the plans for category expansion? Also, you would be looking to expand your brand portfolio?
We are definitely looking for foreign tie-ups to bring our product abroad. We have already signed up with Amazon US. However, there is no plan to bring any other brand to our portfolio.
What are the plans for online expansion? How would you ensure the online expansion of the brand?
Online is a very important channel for us. In fact, we are planning to have our exclusive webstore very shortly, other than that; we have tied up with all the leading market places including Pepperfry, Urbanladder, etc.
Do you think online is the viable channel for categories such as furniture which is usually very highly priced??
Online is a very important channel as far as brand building is concerned. I have just sold out furniture worth two lakh on pepperfry.com.