It’s no longer just about what women wear or buy, as gender diversity takes the front seat. Menswear too seems to have caught up with the trend. Premium menswear apparel brand, DaMENSCH claims to have clocked its annual turnover of Rs 100 crore for FY22, Deepti Karthik, senior vice president – marketing, DaMENSCH, told BrandWagon Online. BrandWagon Online, could not verify the data shared by the company. “Our revenue has hiked up by three times on a year-on-year basis,” she added. According to the company, it started with its men’s innerwear range and has now expanded its portfolio to include sweatshirts, t-shirts, hoodies, among others.
As per the regulatory filing accessed by the business intelligence platform Tofler, Damensch Apparel Private Limited posted a 145% rise in revenue from operations to Rs 21.1 crore in FY21 from just Rs 8.6 crore in FY20. The company’s net loss shrank 53% to Rs 5.79 crore in FY21 from Rs 12.3 crore in FY20.
According to the company, smaller cities and town accounts for most of its sales, primarily due to the boom in e-commerce. “This was surprising for us when we observed that 37% of our users were from tier-1 cities, 30% of the users from tier-3 cities, and the rest were from tier-2 cities and small towns,” she said.
Furthermore, in an effort to expand its operations, the company has opened its first brick-and-mortar store in Bengaluru. According to Karthik, the brand plans to follow an omnichannel strategy. Its goods will be available via multi-brand outlets, and large-format retail stores by the end of this November. “We are looking to open one store every month,” she added.
When asked about the company’s marketing strategy, it claims that about 20-25% of its revenue is invested in advertising and marketing. The company claims that digital marketing will continue to account for most of its ad spend. As part of its plans, with November 19th, being International Men’s Day, the company plans to roll out a new campaign.