NEW DELHI: Kids and maternity wear retailer Me N Moms is targeting a turnover of Rs 200 crore in FY22, up from Rs 150 crore in FY 2021.
The company, which recently announced its plans of launching 200 stores by the end of this fiscal, told TNIE that after Covid-19, there have been a lot of inquiries from tier-2 cities like Panipat and Gandhinagar for franchises.
“We have already signed 15 franchises, and are planning to open more company stores,” said Naresh Khatar, Managing Director, Me N Moms.
The company in November launched 12 new stores. Various majors like Godrej and Dabur have recently forayed into the baby care segment.
Affordable quality, according to Khatar, is Me N Moms’ USP that will help the brand take on bigger firms.
Khatar claims the retailer’s baby care products are priced at least 20-25% less than other brands in the same category.
Hyderabad, with 20 stores, is the most important city for the brand while North is coming fast, says the MD, adding they are tying up with franchisees in the north-east as well.
“Of the new stores, 25-50 will be franchises, for which the investment is Rs 25-40 lakh depending on the store size. Similarly, Rs 25-30 lakh would be invested for company stores,” Khatar informed.
The brand currently has 135 stores running, employing 750-800 people.
Talking about the digital strategy, Aneesha Khatar, Brand Custodian, Me N Moms, says they have come up with a concept of having mommy influencers talk about the brand.
“We have customers coming to the store who may not be influencers as the term goes, but have their own following. We are collaborating with them to talk about the products as they have got hands-on experience with the brand,” says Aneesha, noting they are seeing a lot of traction there.
Me N Moms recently launched its fruit-based skincare range, portable baby cots, and is further working on a line of butter for babies, high chairs and 3-in-one chairs.