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The Souled Store has significantly bolstered its brick-and-mortar footprint in Northern India with the launch of its newest flagship at Nexus Select Citywalk, Saket. Strategically situated on the second floor of Delhi’s highest-performing retail asset, the store represents a decisive move to transition from a digital-first entity into an omnichannel powerhouse. This expansion comes as the brand reports a robust 37 per cent rise in operating revenue, reaching Rs 492 crore in the latest fiscal cycle, fueled by an aggressive rollout targeting high-traffic premium malls.

Capitalizing on the streetwear and pop-culture growth

The Saket flagship is a central pillar of the brand’s ‘200 by 2026’ roadmap, which aims to establish 200 standalone stores nationwide by the end of the year. Unlike traditional apparel retailers, The Souled Store leverages a library of over 200 official licenses - including Marvel, Disney, and Naruto - to insulate itself from the volatility of generic fast fashion. With India’s D2C market projected to hit $300 billion by 2030, the brand is utilizing these high-energy physical hubs to consolidate a staggering 83% average store conversion rate. The new outlet features an immersive layout designed to engage the Gen Z and Millennial demographic, who increasingly prioritize experience-led shopping over pure utility.

Financial velocity and the path to IPO

Despite a slight moderation in net profits due to heavy capital expenditure and a 40 per cent uptick in procurement costs, the company maintains a healthy 9.7 per cent EBITDA margin. This store opening serves as a high-impact billboard for the brand’s upcoming Rs 2,000 crore IPO, slated for late 2026. By securing a presence alongside global luxury peers in Saket, The Souled Store is successfully ‘premiumizing’ its brand perception. Vedang Patel, Managing Director notes, the focus remains on high-revenue-per-square-foot locations to drive the next phase of growth, which includes a planned international debut in Dubai.

Founded in 2013 with a modest Rs 5.5 lakh investment, The Souled Store is now India’s largest retailer of licensed merchandise. The Mumbai-headquartered brand has raised nearly $30 million from investors like Elevation Capital, scaling from a T-shirt startup into a comprehensive lifestyle label spanning footwear, sneakers, and casualwear for the 18–32 demographic.

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