Zouk eyes annual revenue run rate of Rs 100 cr by FY23, Retail News, ET Retail
“We wanted to offer stylish and functional products, with an essence of Indian craftsmanship. We grew from around 10,000 customers to over 60,000 customers and hit the one lakh mark in December, thanks to the support massive customer base,” Zouk co-founder and COO Pradeep Krishnakumar told PTI.
Zouk’s customer base is growing at a steady pace and the company aims to generate an annual revenue rate of Rs 100 crore by FY23, he added.
Revenue run rate is a method of projecting future revenue over a longer period of time based on previously earned revenue.
Krishnakumar, however, did not comment on the current earnings figures.
In July last year, Zouk raised Rs 11.75 crore ($1.5 million) in a pre-Series A funding round, led by Stellaris Venture Partners, with participation from the founders of Wow Skin Science and existing investor Titan Capital.
Talking about the company’s expansion plans, Krishnakumar said that Zouk will release its products in international markets by FY23.
“We’ve done a few custom orders, it’s suggested by customers or friends of customers. So we’ve already shipped a few orders internationally. By FY23, we’re going to be pushing our products to international markets, which will be mostly online-driven,” he said.
The executive added that in geographic terms, the company will focus on markets like the United States, Canada and the Middle East.
“Zouk is also planning to expand its product range from wallets to handbags. Although we cannot talk about the segments at this time, the products will have elements of functionality and Indian designs…
There are over 200 artisans associated with the manufacture of Zouk products and we plan to train another 10,000 in the future as demand for the products increases,” he added.
Krishnakumar said offline expansion was also on the cards for the brand.
“The company has started its offline journey through more than 50 exhibitions and will consider multiple formats such as partnerships with major offline brands, pop-up stores in malls, etc. before launching a stand-alone offline store. entire,” he added.