94-year-old business into a Rs 100 crore premium brand

INSPIRATION:-

How TWOcousins made bespoke tailoring their strong suit and turned 94-year-old business into a Rs 100 crore premium brand

James Bond, the Kingsman and Barney Stinson – who knows best the power the right suit can vest in you? All of them, for sure, but not more than PN Rao, the Bengaluru-based fine suits  company

Set up in 1923 as a small tailoring and retail unit, PN Rao has come a long way. A Rs 6 crore company a decade ago, they notched up Rs 60 crore in revenue in 2017 fiscal. Well on its way to becoming a Rs 100 crore company by 2020, the group has ambitious targets of getting to Rs 190 crore revenue by 2023. How? By adding more than 35 stores from the current strength of seven stores.

source yourstory.com

What is a fine suit?

• They are not machine made.
• They have different patterns of customisation.
• The fabric type (wools), quality and weave must be superior.
• Clothing construction is stitched to fit your body.
• Services offered before buying and after delivering the product.

PN Rao had to answer these questions to make the global Indian believe in the PN Rao promise.

“We almost set up a large manufacturing unit; this would have eroded our business. We soon realised fine suits were our sweet spot,” Naveen says. He adds that the Ketan and the second generation, Chandramohan Pishe and Machender Pishe, prevailed over the idea of manufacturing suits on a mass scale because it would “just not make us competitive”.

The brothers then spoke to the second generation on how to expand their retail footprint.