The brand aims to open more than 50 offline stores across India by 2023 as part of its strategy. The company has a 3 million-strong customer base and serves 3 lac customers on a monthly basis.
Starting online-only in 2014, the brand has since built its distribution presence over the last 4 years and now reaches over 225 towns and cities in India, through 750+ assisted retail outlets, and over 10,000 unassisted retail outlets, all growing month on month. The addition of exclusive stores to this portfolio is expected to significantly increase its reach to its target customer segments. On a path of rapid, sustainable, fundamentals-driven growth with a blend of the right product and strong brand identity, it finds itself in a leadership position with strong financials, experiencing a 2.5X growth Y-O-Y, with an annualised run rate of Rs. 200 crores offering over 150+ SKU's.
Commenting on the company's footprints and milestones Shankar Prasad, CEO iamp; Founder, Plum, said "In today's world, an average consumer has to go through several touchpoints of inquisitiveness, awareness, consideration and trials while making a purchase. While online medium offers excellent options at many of these touchpoints but is not always complete. Keeping these parameters in mind, we wanted to provide our customers with an opportunity that serves as an all-in-one experience across all these touchpoints. With the opening of our first exclusive store in India, we are looking to bring back the richness of human face-to-face interactions, thereby, adding to the joy of consuming the product. As next steps in the same direction, we have charted out a roadmap for the next two years wherein we will be opening over 50 stores across the country."
New Delhi, Oct 14
A homegrown, 100 per cent vegan, PETA-certified, clean beauty brand, Plum, has announced the opening of its first-ever exclusive store at R-City Mall in Mumbai, with the goal of catering to a diverse customer base through online and offline retail touchpoints. The opening of exclusive stores reflects the company's strategy to develop "phygital" channels to serve its customers and building a truly omnichannel approach to deliver customer delight and propel growth.
Disclaimer: This story was supplied by an external content provider; we do not endorse or accept responsibility for its accuracy, completeness, or any outcomes from relying on it. It is for informational purposes only and does not constitute legal, financial, medical, or other professional advice. Laws and regulations vary and may change; readers should verify accuracy and compliance with local requirements and consult a qualified professional for tailored guidance.
