India’s leading chain of discount format stores- Brand Factory, owned by Future Group targets to have a GMV (Gross Merchandise Value) of Rs 500 cr by the end of its three-week-long campaign. Plying on the concept of ‘Unbranded to Branded’, the campaign was initially planned for just one week which has now been extended to three weeks owing to a GMV generation of Rs 350 cr in first two weeks itself.
“We will cross Rs 500 cr GMV mark,” Suresh Sadhwani, CEO, Brand Factory observed. He elaborated, “On an average, we have serviced around 1 lakh customers every day across our 69 outlets during the campaign.”
Under the campaign, Brand Factory has been giving out discount vouchers worth Rs 150 to 400 in exchange of unbranded clothes brought in by the customers. These vouchers can then be redeemed along with flat 50 percent discount at the Brand Factory outlets during the promotional period.
Additionally, Future Group is also planning to dish out more Brand Factory outlets to increase its store count from current 69 to 100 in the span of next three months to squeeze the best out of festive rush. Future Group intends to expand exponentially and have a store count of 200-250 by 2022.
At present, Brand Factory offers more than 200 Indian and international brands at 20-70 per cent discount, 365 days a year at its stores. Merchandise available at Brand Factory stores includes men’s formals, casuals, youthwear, womenswear, sportswear, kid’s wear, footwear, accessories and more.
Notably, Brand Factory grabbed Rs 90 cr business and 5X sales during its ‘50% Anything & Everything’ sale held last year.