Bangalore, September 22nd, 2023: Soch, the largest evening-occasion women’s ethnic wear brand, achieved a significant milestone during the fiscal year 2022-2023 by crossing the 400 Cr mark in topline revenue. The Operating EBDITA for the year was at 36 Cr (~9%). Most fashion retailers struggled to hit profitability due to sector headwinds in the last two quarters. Soch showcased exceptional adaptability and brand resilience as demonstrated in its performance.
In line with its growth strategy, Soch launched 18 new stores in the previous year, with ambitious plans to double the number of new stores in the current year. Soch crossed the 150 stores mark in August 2022, further solidifying its Pan-India presence. The brand is now across 60+ cities, all prominent marketplaces and its e-commerce site servicing over 30,000 pin codes.
Soch has also experienced significant growth in its online business, recording a 125% increase in revenue from 19 Cr to 44 Cr. The brand’s recent innovative Omni-channel approach, introducing Digital Tabs in stores, has garnered praise for providing customers with an “Endless Aisle” experience, offering five times more choices than an average brick-and-mortar store. Moreover, the introduction of digital catalogues and lookbooks have enhanced the shopping journey, exemplifying its Omni channel initiative. Its online business will continue to be a key pillar for future growth, increasing from an 11% to a 20% contribution of revenue by 2026.
The company is on track to expand its reach significantly, establishing an even stronger nationwide presence. Vinay Chatlani, CEO of Soch, said, “Our success is a testament to the dedication and hard work of the entire Soch team. With a well-defined vision, we aim to achieve the 1000 Cr mark within the next 3-4 years.”
Soch operates on a distinctive hybrid model that encompasses three core elements: a) Internally driving the design and creative direction for its range. b) Harnessing the capabilities of its expansive supplier network for manufacturing capability and design interpretation. c) Utilizing its internal Quality control expertise to ensure superior quality. This synergistic approach empowers Soch to maintain aesthetic control while drawing design inspiration and manufacturing capabilities from diverse regions across the country.
Soch Apparels, the largest evening-occasion ethnic wear brand for women in India, seamlessly combines traditional and modern artistry. Our meticulously crafted outfits, featuring elaborate embroideries and handpicked fabrics, celebrate the rich heritage of Indian aesthetics. We offer a wide range of stylish designer ethnic wear that includes sarees, salwar suits, kurtas, tunics, kurta sets, lehengas, and kaftans. With over 160 stores across 60+ cities, Soch is the go-to destination for stylish and elegant designer ethnic wear. Visit soch.com to explore our collection.