11 February 2023, Mumbai
Cantabil plans to open 80 to 90 stores every year. The apparel manufacturer and retailer opened 19 new exclusive retail stores during the third quarter in different states including J&K, Maharashtra, Punjab, Uttar Pradesh, Nagaland, Gujarat, Himachal Pradesh, Madhya Pradesh, Rajasthan, and Haryana.
With multiple store openings, Cantabil Retail has reached a 439 store mark and plans to continue expanding across India this year. Cantabil is focusing heavily on providing the best-in-class shopping experience both in-store and online. The all-new Cantabil stores represent the future of retail experience for its customers, as they offer a full range of formalwear, partywear, wedding collections, casuals, and ultracasual clothing for men, women, and children in the middle to upper-income brackets under one roof.
Revenues from same stores played an instrumental role in delivering the desired growth in financial performance. Apart from this, the addition of new stores has also significantly contributed towards superior performance and provides an expanding platform to support the company’s strategic growth objectives. For the third quarter the company’s revenue was Rs163 crores with a net profit of Rs 27 crores. For the nine-month period, revenues were Rs 380 crores with ebitda and pat of Rs 123 crores and Rs 50 crores respectively.
