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Yepme, omni-channel retailer, is planning expand its reach to tier II and tier III cities of the country. It is aiming to further penetrate the Indian market by floating in around 1,400 stores across the country in the coming next three years.
While having conversation with one of the dailies, Vivek Gaur, Co-Founder and CEO, Yepme stated that company’s hypothesis were, first, that all fashion brands in India typically have 1:10 or 1:20 kind of split online and offline. If that is the truth then brand has a 10x potential. Tier II cities have aspiration-al consumers who want to try fashionable products. However, these towns and cities lack such offerings where Yepme can meet the demand through its franchise stores. Typically, the size of the stores can be around 750-1,200 sq ft.
Company launched its operations from Gurgaon and currently, it caters to the needs of its customers through 27 franchise stores installed across the length and breadth of the country. Shedding some light on the power of Omni-channel, Gaur informed that Omni-channel has been able to multiply brand sales by 6X in geographies where it has opened offline stores. Brand sees the potential at 10x as most fashion brands have only 10 per cent from online sales. Hence, Yepme should be able to reach 10x of its last year top-line in next 3 to 4 years.
