Chumbak gets into whole lifestyle fit

Lifestyle and design major Chumbak has embarked on a multi-pronged growth strategy, riding on a new diversified product spread, retail channel, and a global expansion plan.

Chumbak, which is known for its quirky collectibles, souvenirs and accessories themed on India, has over the last few months forayed into several upmarket lifestyle segments, namely home decor, accessories, and apparel.

“In 2014, we started the home decor segment and then accessories. Now, we have unveiled a new apparel range, ‘Collection One’, for which we spent six months perfecting fabrics, fits, and silhouettes,” Chumbak CEO Vivek Prabhakar told Deccan Herald.

The company had opened kiosks at 35 locations all over India, from 2013. “Our kiosks are profitable, but we want to grow as a brand, and not remain a small player. We will  be expanding our high-street standalone and mall store formats,” he said, adding that the kiosks will be retired over the coming months.

Now, Chumbak plans to take its existing  11 stores to 25 stores by the end of this fiscal, while around Rs 60 lakh-Rs 75 lakh may be needed to set up a single store. The company is also contemplating expanding into foreign markets next year.