In its move to consolidate it offline business, online fashion lingerie brand PrettySecrets is planning to double its offline retail distribution to 60 exclusive stores and over 600 retail counters by the end of this calendar year.
Pretty Secrets Founder & CEO Karan Behal said, "After starting out as an online brand...we entered offline retail last year. We are looking at expanding this channel. We are looking at having 60 exclusive brand outlets by end of this year. We are also increasing the number of retail counters where our products are sold to over 600.”
Having started out with an e-store in 2012, PrettySecrets currently has 6 distributors in about 250 retail counters. The company is looking at appointing 7 more distributors which will take its total retail counter distribution to over 600 by end of the year. PrettySecrets at present has 23 exclusive brand outlets.
While commenting on the fundraising for its expansion, Behal said, "We are constantly in touch with venture capital/private equity players. We will need capital...however, we are looking at debt options at this point in time."
PrettySecrets has raised Rs 55 crore so far in multiple rounds of private equity investment from investors such as RB Investments Pte Ltd, Orios Venture Partners, Indian Angel Network, India Quotient and Harvard Business School Angels India.
Behal said the company is expected to break even by October this year.
The brand, which also sells its products on e-commerce websites of UAE and South East Asia, Souq.com and Lazada.com may also look at overseas foray with this year.
The brand offers about 1,000 products in the category of lingerie, nightwear, swimwear, and activewear.