Citykart, a value-driven fashion retailer, is setting its sights on becoming the Primark of India’s Tier II and Tier III cities. The brand is focusing on expanding its reach and product offerings to cater to the growing aspirations of Indian consumers.
A Focus on Affordable Fashion
With India’s rising middle class and increasing disposable income, Citykart is positioning itself as a go-to destination for affordable, trend-driven fashion. The retailer is prioritising volume over price, aiming to attract a wider customer base. To achieve this, the brand is introducing new sub-categories like cosmetics to its general merchandise offering.
Expanding Reach and Strengthening Operations
Citykart currently operates 127 stores across 87 cities and plans to add 40 more stores in the next fiscal year. The brand is particularly focused on expanding its presence in states like Uttar Pradesh, Bihar, Assam, Orissa, West Bengal, Jharkhand, and Chhattisgarh.
To support its growth, Citykart is investing in its backend operations, including warehouse management, supply chain management, and inventory management. This will enable the brand to improve efficiency and deliver a better customer experience.
Strong Financial Performance
Citykart’s strategic focus on affordable fashion and expansion has resulted in impressive financial performance. In FY24, the brand’s revenue increased by 20% to Rs 628 crore, and its EBITDA margin improved to 6.1%. For the current fiscal year, the retailer is targeting revenue of Rs 950-1,000 crore and an EBITDA margin of 8-9%.
By offering a wide range of affordable, stylish products and expanding its retail footprint, Citykart is well-positioned to capitalise on the growing Indian fashion market and emerge as a major player in the industry.
