KingsCraft Expects Rs 50 Million Revenue from Newly Launched E-Commerce Platform in Fiscal Year 2025, ET Retail

Mumbai: Online retail brand KingsCraft Online Brands on Friday said it expects to generate Rs 50 crore in revenue from its newly launched e-commerce platform Underrated Club this fiscal. The Pune-based company, which began operations this year, also said it is looking to enter offline segments with plans to open 50 fashion retail stores in Tier-I cities under the new platform by March next year.

With an investment of Rs 80 million, the company strategically positions Underrated Club as a key player in the affordable luxury streetwear segment.

“At URC (Underrated Club), we are redefining streetwear by combining innovation and sustainability,” said Abhishek Teri, co-founder, Underrated Club.

Underrated Club aims to expand its reach through its strong online presence and partnerships, with plans to partner with leading e-commerce platforms and establish a physical presence through retail partnerships, pop-up stores and flagship stores in major cities, the company said.

Teri said that as part of this expansion, the company plans to open 50 physical retail stores under the brand in tier-I cities like Mumbai, Delhi, Bengaluru, Pune and Hyderabad during the current fiscal year.

He also added that the company aims to generate Rs 500 million in new business revenue in fiscal 2025 and aims to achieve Rs 200 million in platform revenue in the next three years.

“India is where we started. URC brings a fresh, vibrant twist to streetwear, tailored specifically to the needs of the youth. Our debut collection is just the beginning, with many more exciting collections on the horizon. We are also expanding our offering with a diverse mix of fashion elements, ensuring that there is something for everyone,” said Kartik Anand, Co-Founder, Underrated Club.

Published on Jul 27, 2024 at 09:23 IST

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