The Gujarat-based D2C Perfume brand eyes online expansion in the US, Canada, and the UK.
New Delhi: Gujarat-based D2C perfume brand AdilQadri is eyeing global expansion through online routes in the US, Canada and the UK region, a top executive told IndiaRetailing.
“We are looking to the US, Canada and the UK for online stores,” said the company’s founder and chief executive officer Adil Qadri.
“We are also planning offline and online stores in the Kingdom of Saudi Arabia and we are expanding to D2C in Dubai where we previously only had a retail store,” added Qadri.
The 2018-incepted bootstrapped company is also targeting a revenue of Rs 200 – Rs 250 crore for the Financial Year (FY) 2024-2025 from all its channels including D2C, retail and kiosks. Qadri shared that the company has been growing consistently, especially after 2022. In the Financial Year (FY) 2022- 2023, it clocked about Rs 20 crore in revenue.
In the present fiscal FY 2023-2024, it has already generated about Rs 80 crore and expects to close the year with Rs 90 crore, an increase of around 350% Year-on-Year. In January 2024 alone, the company reported a revenue of Rs 9 crore, which increased to Rs 12.5 crore in February-a 33% increase month-on-month.
“This is the highest revenue in a month for us to date,” said Qadri adding that strong performance on its D2C has contributed to the jump.
“From D2C alone, we clocked over 1,20,000 orders in February, plus we clocked another 80,000 orders from marketplaces,” Qadri adds.
AdilQadri was recently featured in Shark Tank India Season 3 and also bagged an offer of Rs 1 crore for 1% equity and 1% royalty until Rs 1 crore is recouped from Vineeta Singh, chief executive officer, Sugar Cosmetics.
Speaking further on the future fundraising plans, Qadri adds “We are now speaking to certain VC (venture capitalists) firms and are planning to raise at least $4-5 million through these venture capitalists.”
Meanwhile, AdilQadri has also lined up expansion plans for its home market in India. The brand plans to increase its presence in Gujarat and Maharashtra–regions where it has 15 stores. The brand also plans to expand to Kerala, Delhi and Telangana.
“We are also planning to launch at least 4 stores in Hyderabad since the city shows great potential for scaling our business,” said Qadri adding that the average revenue per store is Rs 6 lakh per month.
In Maharashtra, the company is present in Mumbai at Jogeshwari, Mira Road, Masjid Bandar and Andheri (Infiniti Mall) among other parts of the city. In Gujarat, it has two stores each at Kutch Border, and Morbi Highway, four stores in Surat, one on Surat Highway NH 48, one in Navsari, and one in Bilimora. The brand is now planning to open two stores in Ahmedabad.
Qadri plans to continue adopting technology in his new stores and online ventures, working with multiple tech enablers, across all business needs. Speaking about the company’s technology partners, he said that it uses Shopify for the platform, GoKwik for checkouts, payments and RTO (return to origin) and Unicommerce for order management.
“Our enablers help ensure our tech infrastructure is always taken care of for unstoppable business growth. GoKwik even helped us increase prepaid by 40-45%,” he added on the technology side.
