Gully Labs, a sneaker label which has recently teamed up with motorcycle brand Royal Enfield to launch an exclusive sneaker collection, is planning to become a Rs 100 crore brand by FY28, Arjun Singh, co-founder of Gully Labs told ETRetail.
The brand, which started its operations 2 years back, is eyeing to close this fiscal with Rs 15 crore in revenue.
“We’ve grown from selling 10-15 sneakers a month to close to 1,500 sneakers a month. And now, we are eyeing a 10x jump in our revenue by FY28,” he said.
“To expand our presence further, we plan to get sharper in marketing and become good at selling as till now, we were a product manufacturing, design-led brand,” he further added.
The brand, which has a presence through its website and at 2 MBOs in Mumbai, is planning to expand its presence on key marketplaces along with expanding its offline presence.
“This fiscal year, we will be expanding our presence in MBOs in Hyderabad, Kolkata, and Delhi. We are also planning to open our EBO in Mumbai spanning across 1,500 – 2,000 sq.ft,” he asserted.
Recently, the brand has invested Rs 30 lakh to open a vertically integrated manufacturing unit in Noida spanning across 10,000 sq.ft with a manufacturing capacity of 10,000 sneakers a month.
“At present, we offer 25 SKUs and plan to double them by the end of this fiscal year,” he stated.
The brand, which is cash flow positive, gets 20 per cent of its revenue from the international markets.
“We sell to customers in the US, UK, UAE, Singapore, Australia, and Canada,” he said.
It plans to deepen its presence further in the US market.
