Nestasia end FY22 with net revenue of Rs 21.8 crore; plans to roll out first offline store this March

With the roll of its store the company plans to spend on traditional marketing channels.

Aditi Murarka Agrawal, co-founder, Nestasia, looks to enter the US marketplace
Aditi Murarka Agrawal, co-founder, Nestasia, looks to enter the US marketplace.

Home and decor company, Nestasia plans to expand its operations offline by opening exclusive brand outlets (EBOs) by March of 2023, Aditi Murarka Agrawal, co-founder, Nestasia, told Brandwagon Online. “The omnichannel is just starting out. The app will be launched by the end of February, followed by our first store, which will be launched in March,” Agrawal added.

The company claimed to have ended FY22 with net revenue of Rs 21.8 crore. Moreover, the company claimed to be profitable in the same fiscal. “The previous fiscal, we were EBITDA positive but this year we will be EBITDA flat given there has been a lot of spends across various development activities,” Agrawal elaborated. Moreover, the company claimed that it will be EBITDA positive in FY24.

Furthermore, the company plans to expand its marketing activities. Being digital-first, most of the marketing undertaken has been digital. Performance marketing accounted for 60-70% of its total marketing expense, besides 15% which was accounted for by affiliate marketing. The company claims to allocate 30-35% of its net revenue to its marketing budget. Additionally, it claimed that with the roll-out of its offline store, it plans to spend on traditional marketing channels. “Radio is something that we’re excited about and we’re already in talks with launching our first campaign with the launch of our first store,” Agarwal commented.

According to the company, its US marketplace will commence entirely by the end of February. Moreover, it is also looking to enter the Middle Eastern, Australian and New Zealand markets. In India, metros account for a majority chunk of 50% of total sales. “Tier-1 cities account for a significant chunk of sales which include cities such as Ahmedabad, Surat, Vadodara, Kochi, Jaipur, and Indore, among others,” Agrawal observed.

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First published on: 13-02-2023 at 09:47 IST
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