Joker & Witch aims to become a Rs 500 crore brand in four to five years

Accessories label Joker & Witch aims to become a Rs 500 crore brand in the coming four to five years and expects to report an annual recurring revenue total of Rs 150 crore in the 2025 fiscal year. The brand is focusing on expanding its product offering and widening its brick-and-mortar network for growth. 

“70% to 80% of our stores will be in metro and Tier 1 cities,” Joker & Witch’s co-founders Satish Singh and Maya Varma told ET Retail. “Initially, we will be opening company owned, company operated stores and then gradually might evaluate franchising opportunities as we scale.”

Joker & Witch’s upcoming stores will measure on average between 200 and 400 square feet and will retail its modern, trend driven fashion jewellery and accessories. The business aims to have each of its upcoming stores reach profitability in terms of earnings before interest, tax, depreciation, and amortisation from the first month of their operations, the Economic Times reported. 

“Location strategy for us will be in line with how the direct to customer geographical distribution looks for us at this point in time,” said Singh and Varma. “Metro and Tier 1 cities will have nearly two thirds of our stores with the maximum number of stores in Delhi/ NCR followed by Mumbai and Bengaluru… to expand our offline presence further, we might consider raising funds for capex purposes.”