Brand Studio Lifestyle Eyes Rs 2,000 Cr GMV By End Of FY24

Brand Studio Lifestyle, on Friday, said that it's aiming to achieve a gross merchandise value (GMV) of Rs 2,000 crores in the fiscal year 2024. In the previous fiscal, Brand Studio generated a GMV of Rs 1320 crore. 

The company is on track to achieve its target, with the flagship brands on an annual run rate (ARR) of Rs.1900 Crores. 

In the last 8 years, the company has shown a compounded annual growth rate (CAGR) of 38 per cent and a continuous expansion of its operations, the company said.

In the current fiscal year, the company anticipates a more than 30 per cent year-on-year growth rate from existing channels and categories and additional growth from new business initiatives.

Shyam Prasad, CEO, Brand Studio Lifestyle, said, “With a growing economy, the market growth targeted at Gen Z will witness unprecedented and transformational growth. This growth will be distributed across Tier I, II & III cities and towns. We at Brand Studio Lifestyle, being a trend and fashion-driven business targeting the youth, are expecting to capitalize on this huge opportunity both in India and Globally.” 

He further added, “We possess the capability to swiftly deliver new trends to consumers within eight weeks of identifying a promising fashion trend. Our daily order processing rate now stands at approximately 80,000 units. We collaborate with 300 sourcing vendors across the country, having a combined capacity of 25 lakh units per month. We have ambitious plans to scale this capacity to 35 lakh units, monthly, within the next 18 months.”