13 December 2025, Mumbai
Iconic’s launch of its largest Gujarat store - a massive 23,000 sq ft flagship in Rajkot—underscores a crucial shift in India’s fashion retail: the rapid ascendancy of the Premium Multi-Brand Outlet (MBO) format in non-metro markets.
This aggressive physical scaling is the primary engine driving Iconic toward its ambitious target of Rs 1,100 crore in revenue within three years. Featuring over 40 curated global brands like Tommy Hilfiger and Calvin Klein, the MBO model is proving highly effective in Tier-II cities by offering global variety and luxury accessibility without the high capital risk of launching dozens of individual Exclusive Brand Outlets (EBOs).
The experiential retail trust factor
The Rajkot flagship offers personalized styling and integrated brand zones. This focus on premium in-store trust is essential as India’s overall fashion retail market, valued at over $60 billion in 2024, sees its fastest growth coming from these non-metro hubs, fueled by rising disposable incomes and digital exposure. Apoorva Sen, COO, Iconic, highlights the move as a strategy to elevate the Indian shopping journey. The brand’s Rs 150- crore capital plan includes adding a staggering 10 lakh sq ft. of retail space, directly competing with department stores and cementing its role as the go-to destination for affordable luxury apparel in culturally vibrant markets like Rajkot.
A leading premium multi-brand outlet (MBO) in India's fashion retail landscape, Iconic offers a curated portfolio of over 40 international and premium domestic brands across men's, women's, and kids' apparel, footwear, and accessories. Launched in 2013, Iconic aims to bridge the gap between mass-market and high-end luxury, positioning itself as a destination for 'Fashion Different' in major metros and aspirational Tier-II cities (like Ahmedabad, Jaipur, and Ludhiana). Its growth strategy emphasizes expanding its physical retail footprint with large, experiential stores while maintaining an omnichannel presence to capture the rapidly growing premium fashion segment, aiming for strong revenue growth propelled by its calculated geographical expansion.
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