With the aim to maintain a stronghold in the kids’ wear segment, Me n Moms is looking to expand its footprint within India and beyond, in the Middle East. Commenting on their plans, Naresh Khatar, Founder and Managing Director, Me n Moms says, “Targeting a growth of 35 to 40 per cent this year from a steady 25 per cent over the last five years, we are looking at launching new stores. And considering the company’s strong background and good business model, we will surely plan an IPO in the coming years.” The retailer has chalked out plans to increase its outlets to 50 in the next three years, half of which will be company-owned and the remaining will be franchisees. “For this, we will be investing Rs 300 crores, which will be through our internal accruals,” he added.
Me n Moms has been offering baby and mother care products for the past 20 years to quality-conscious Indian consumers. Me n Moms, under the brand name MEE MEE, offers dedicated categories of kids’ wear and accessories for 0-3 years, ranging from footwear, furniture and toys to baby playtime and bath time products. It also offers several other brands in the same category under one roof as well as tailor-made products for expectant mothers for their pre-natal and post-natal phases. The company has 12 retail stores and nine wholesale offices catering to customers across India. The exclusive stores are in Lucknow, Hyderabad, Mumbai, Noida, Pune and Nasik and Mee Mee products are offered through several multi brand outlets -across India. In fact, the company added its 3rd store in Hyderabad and 12th in India only recently.
The target consumers are children (0-3years), expectant mothers and new mothers. “This apart we also have B2B consumers. The evolution in the buying behavior of children, and their influence over their parents results in a big difference in purchase decisions. Media exposures and promotions also cause a significant influence in the market. Evolving dynamics in this market have made it necessary for manufacturers and retailers to evolve their business strategies in order to sustain themselves in the market. We position ourselves as an affordable retailer with quality products that would attract the Indian customer,” Khatar adds.
Khatar believes since the Indian apparel industry will grow to be a Rs 80,000 crores industry within the next two years, his brand too will grow in leaps and bounds by 2020. “The Indian apparel segment is registering healthy annual growth rates of 17 per cent, and we see it as a sunrise industry with a lot of opportunities. We believe in the quality of Mom n Me product portfolio. I envision my brand to expand further and be a category leader,” he explains. “We have clocked a turnover of Rs 80 crores last fiscal through two verticals, B2B and B2C,” he sums up.