FY22 will see us back on growth track: Chumbak – Devdiscourse

Lifestyle and home decor brand Chumbak is witnessing revival in demand and business returning to normal across its physical stores, adding to the company’s confidence of getting back on the growth track in FY22.

Speaking to PTI, Chumbak CEO Vasant Nangia said like most organisations, the firm’s business was also hit by the lockdown in March last year.

”In FY19-20, there was a 20-22 per cent increase in revenue over previous year. While FY21 numbers will have an impact of the COVID-19 pandemic and lockdown, we don’t see a revenue decline happening,” he said.

Nangia added that FY22 will see the company get back on the growth track.

The company has about 70 offline stores across the company and also sell its products – spanning across 12 categories including stationery and souvenirs, apparel, kitchenware and home decor – online.

”We have plans to step up offline expansion but then the pandemic and lockdown happened. All stores are yet to come back to pre-COVID levels but recovery is fast,” Nangia said.

He added that the company will look at getting back to normalcy before it starts to aggressively expand its offline presence later in the year.

Asked if the brand – which was established in 2010 – is also looking at tapping into international markets, Nangia said Chumbak is exploring the scope for international sales in a small way but it’s still early days.

Talking about growth roadmap, Nangia said the home category – which currently comprises 35-40 per cent share of revenue – is expected to grow to 50-60 per cent.

This growth is being driven by trends like people spending a considerable amount of time at home (work-from-home being part of it) and wanting to redesign the space, he added.

Chumbak, which is popular for its quirky designs in apparel and accessories, has recently announced actor Sara Ali Khan as its first brand ambassador for its home and watch categories.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Source: devdiscourse.com