Virgio Plans Aggressive Expansion with $1 Million Investment
Bengaluru-based fashion-tech brand Virgio is targeting significant growth with a $1 million investment earmarked for expanding its physical presence. The company plans to open a total of 16 retail stores across India, as well as two international locations in Dubai.
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According to Amar Nagaram, the co-founder and chief executive officer (CEO) of Virgio, the company is aiming for a revenue of Rs 120-150 crore in fiscal year 2026. “We have finalised high-street store locations in Ahmedabad, Surat, Mumbai, and Delhi, with openings scheduled by June 2025,” Nagaram stated. The stores are planned to be around 1,500-1,600 sq. ft. in size, and the company is also considering a location in the Inorbit Mall Vashi in Navi Mumbai. The existing store in Bengaluru’s M5 Mall serves as a model for the expansion.
The brand’s international expansion will begin with the opening of two stores in Dubai, another key part of the growth strategy. Virgio anticipates commencing operations in Dubai by the end of 2025, and is currently scouting for suitable locations.
Nagaram also noted that Virgio is projected to close FY25 with a revenue of Rs 30 crore. “The company aims to achieve 4-5 times growth in FY26, reaching between Rs 120-150 crore,” he said. “We are also planning to launch the men’s wear segment online soon, pending approval expected by June.”
Virgio aims to sustainably scale its business with its own fabric sourcing and design processes. Nagaram explained, “The brand sources fabric and designs multiple collections using the same materials, procuring fabrics from mills in Surat, Tirupur, and various parts of North India.” Furthermore, the company is increasing production capacity with the addition of two factories in Gurgaon, bringing the total number of facilities to nine. Currently, the company produces approximately 5,000 pieces per week and aims to increase machine capacity from 300 to 1,500 by the close of FY26.
Notably, Virgio manages unsold inventory more efficiently than the industry average. “My priority was addressing Myntra’s unsold inventory. While we found a solution, I was determined not to face the same challenge again. That’s when we realised the fashion industry bets on the future,” stated Nagaram, referencing his experience as a former Myntra CEO. The company retains stock for only 45 days, considerably less than the market average of 160.
Looking ahead, Nagaram expressed his long-term vision: “In the next 3-5 years, we want Virgio to be synonymous with trendy, high-quality fashion. As the line between fashion and sustainable fashion blurs, we believe sustainability must become more accessible to the masses. Our goal is to lead this shift, proving that fashion can be both stylish and sustainable, driving a meaningful industry transformation.”
Backed by investors like Accel and Prosus, Virgio has plans to increase its store footprint in Bengaluru from a current 40 to 250-300 stores. The brand currently delivers to 9,000 pincodes across India.
