Pic: Wakefit.co
During FY23, Wakefit broadened its presence by launching 22 brick-and-mortar stores across 15 cities in India. This expansion allowed the company to reach deeper into customer hubs, making its products more readily available to consumers in both metropolitan and tier-2 cities. The physical stores have significantly contributed to achieving the ₹825 crore revenue in FY23, with a steadily increasing percentage of the monthly revenue coming from offline sales.
Wakefit plans to continue leveraging its omnichannel strategy as a critical growth driver over the next three years. The company is planning to open nearly 100 stores across the country, enhancing its physical presence while maintaining its strong online platform, Wakefit said in a media release.
Looking towards future profitability, Wakefit has set a goal to surpass the ₹1000 crore revenue mark in FY24. The company plans to drive this growth through expanding its product portfolio and increasing its geographic and demographic reach.
“We are delighted to have served customers across the nation with our home and sleep solutions offerings. The 30 per cent YoY growth in revenue is a testament to the immense satisfaction people have found in our products and we look forward to serving them even better this year,” said Chaitanya Ramalingegowda, director and co-founder, Wakefit.
"We forayed into the home solutions market in 2020 and, since then, have witnessed rapid growth in those categories. FY23 further solidifies our position in the home and sleep solutions industry. This growth has been possible due to the continued support our customers have shown us. This year, our focus will be on pursuing our goal to become a market leader in the home and sleep solutions category,” said Ankit Garg, CEO and co-founder, Wakefit.
Fibre2Fashion News Desk (DP)