By being a brand that provides a complete wardrobe solution, Blackberrys is eyeing for Rs 1100 crore in revenue this year.
“We have been growing at a CAGR of 17 to 20%. We closed last year with gross revenue of around Rs 900 crore. We are pretty hopeful that we would be able to close with Rs 1100 crore this year,” said Ramesh Kaushik, VP, Brand Experience, Blackberrys.
The brand is now present in 250 cities and is aiming to go pan-India. It is planning to launch 100 stores and will focus more towards increasing its presence in the Southern part of the country.
“This fiscal, we are planning to add 100 exclusive brand outlets. Currently, our total exclusive stores would be 250 out which 185 are the company’s own stores. Overall footprint of the brand is more than 250 odd cities,” said Kaushik.
“North and West are our strongest market and in terms of expansion, it is largely pan-India where South remains a very important zone for us. We will be increasing our presence in tier II and III cities further,” added Kaushik.
This year, the brand has set aside Rs 55 crore for its marketing activities, out of which, it has decided to spend 20% on digital media.
“The current spending that we have for this year will be in the excess of Rs 55 crores. More than 20% of it is going into digital for the clear reason that maximum consumers are getting influenced by digital media. They know how awareness, knowledge, searches are in the digital space and some of them are also buying in the digital space,” said Kaushik.
According to Kaushik, in today’s competitive landscape, staying relevant is a big challenge. As a result, the 27-year-old company decided to revamp its brand identity this year in April. Now, the brand is trying to be a one-stop shop for wardrobe solutions, hence, aiming to receive more loyalists.
“Over a period of time, our brand has got its claim to fame. We have retained what brought us here and we improvise on some of the things to bring about a new identity – design, quality, innovation, all these things are the pillars of a brand which remain as is. But the image is now more in tune with the time – Keep Rising is what we are telling the consumer because every day for consumers is worth victory. They should not believe in finish lines. We want to see more consumers as the lovers of Blackberrys brand. Whereas, our short term goal is more around developing brand affinity and more ROI with a revenue aspect. As a brand, what we are clear about is that we want to be a part of the consumer’s journey on a daily basis.”
Like many other brands from different categories, Blackberrys sees its peak during the festive and wedding season. Cashing in on this opportunity, the brand has launched a campaign called ‘Go East’ and is also launching new products.
“Festive season holds a lot of importance and relevance in our business. However, as a brand, we are associated with all the events and reasons that allow us to celebrate and rejoice. In terms of plans around the festive season, it is more around keeping the brand closer to where the consumer is. The investment is done in both pre-purchase level, purchase level and post-purchase level which means communicating both the message when the consumer is on the floor purchasing the product, and after they have purchased as well. That’s how we look at our campaigns,” said Kaushik.
“We have rolled out a ‘multitude collection’ which is for multiple occasions during the day. This is one wardrobe look with some bit of individual alteration – you can actually wear it during the day or night for your celebrations and ceremonies. Apart from that, we are also running the ‘Go East’ campaign which is largely inspired by the Eastern culture,” added Kaushik.