Mumbai-based fashion house Anita Dongre Pvt. Ltd is looking at a sustainable growth path in the coming years, having shuttered some of its outlets after the pandemic to focus on profitability. The company will also look at giving its private equity investor General Atlantic an exit in the next one to two years by bringing in new investors, Yash Dongre, the company’s chief executive officer (CEO) told in an exclusive conversation.
The company runs luxury brand Anita Dongre as well as premium brands AND and Global Desi with a large presence in the women’s wear segment. The fashion house positions itself as a premium player for its AND and Global Desi brands, and has shut down some stores to streamline its business. It currently has 150 outlets, down from 170 stores earlier.
It has 140 exclusive stores and 11 in the luxury couture business, Anita Dongre. It has closed down several stores in markets like Lucknow and Raipur. “For the last two years, we have focused on consolidation and profitability.
We have fewer stores in some cities but are also using better materials in our clothing, which customers are recognizing. We don’'t want to be seen as a discount-led brand anymore. We are not closing any more stores and are done with the consolidation," Dongre said.
About two-thirds of its 500 crore revenue comes from the two brands, and the remainder from the luxury business. This year, the business is targeting a similar revenue to last year’s. Ratings agency Icra forecast.