Brand Studio Lifestyle, India’s fastest-growing house of fashion brands has set its sights on achieving 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.
This lofty objective is motivated by the company’s reputation as a tech-enabled, intelligent fashion business that is home to well-known fast fashion brands geared towards young consumers, including Highlander, Tokyo Talkies, Vishudh, Locomotive, and Ketch. Considering that the flagship brands have an annual run rate (ARR) of Rs. 1900 Crores, the company is on track to meet its goal.
Since it first started operating in 2015, Brand Studio Lifestyle has shown steady development. The company’s impressive compound annual growth rate (CAGR) during the last eight years of 38 per cent and consistent business expansion are both impressive. The company forecasts a 30 per cent+ year-on-year growth rate from current channels and categories in the current fiscal year, as well as extra growth from new business initiatives.
The company, which has its headquarters in Bangalore, also maintains design offices there and in Delhi, a sourcing office in Bangladesh, and an international sourcing network. Brand Studio Lifestyle generates over 90 per cent of its revenue via popular online marketplaces, with the remaining 10 per cent coming from its Direct-to-Consumer (D2C) strategy, which includes Getketch.com, the Ketch App, and offline Shop-in-Shop formats.
Getketch.com, which was founded in 2021, has more than 23 lakh customers, 10 lakh app downloads, and provides a well-selected fashion experience. All of the brands from the Brand Studio Lifestyle portfolio are exclusively sold on Getketch.com. The company wants to generate 150 crores in GMV via direct-to-consumer business.
Shyam Prasad, CEO, Brand Studio Lifestyle Pvt. Ltd., said, “India is a young country and the population of millennials, Gen Z and Gen Alpha is among the largest in the world. In the next 5-7 years India will have over 1 billion internet users and half of them will be youth. With a growing economy, the market growth targeted at Gen Z will witness an unprecedented and transformational growth. This growth will be distributed across Tier-1, 2 and 3 cities and towns.”
