Sneakrz operator Brandman Retail debuts on NSE; ends 5% above IPO | Company News
Brandman Retail, a distributor and retailer of premium athleisure and lifestyle brands, has been listed on NSE at a valuation of ₹324.85 crore.
The company, which has an IPO price of ₹176, settled at ₹211.80 on NSE on Friday, up 4.98 per cent.
Brandman Retail, which raised ₹86 crore through its public issue, will invest the proceeds in store expansions, working capital support and general corporate purposes, according to a company statement.
Brandman Retail currently operates 21 stores across India, which are a mix of Exclusive Outlets (EBOs) and Multi-Brand Outlets (MBOs).
“As part of its next phase of growth, the company plans to open 15 new stores funded with proceeds from its IPO, forming the first step in a broader expansion strategy to build a national network of more than 50 stores,” it said.
Founded by Arun Malhotra, Brandman Retail has positioned itself as a platform for international sports and lifestyle brands seeking structured entry and expansion into the Indian market.
It operates through a multi-brand retail format under the name Sneakrz. Its portfolio here includes global brands New Balance, Saucony, Anta, Wilson, Salomon and Rockport.
As Brandman Retail expands into high-growth Tier II and III markets, the company expects revenues to grow threefold over the next five years.
“We see strong demand emerging beyond the metros, and our aim is to create a sustainable, multi-city retail platform for global sports and lifestyle brands,” said Arun Malhotra.
The Indian sports and leisure market is witnessing double-digit growth, driven by factors such as growing sports and leisure trends, fitness participation and growing brand awareness.
“With organized sneaker retail still under-penetrated in non-metro markets, Brandman Retail aims to capitalize on the structural shift towards branded retail consumption,” he said.
