30 December 2021, Mumbai:
Madame will raise prices by 12 per cent to make up for vessel cost, freight charges, and import duty. As less than three per cent of the inventory comes below the Rs 1,000 bracket, the fashion retailer will try to absorb it internally to keep the core numbers strong.
Since this is a growing year and the aim is to have better sales Madame will be compromising on the margins for this year.
Madame is eyeing double-digit growth for the next three years. For the current fiscal, the company aims to record a revenue of Rs 320 crores on the back of in-house manufacturing capacity, store expansion drive and strong business from e-commerce channels. Since April 2021, the brand has been opening almost two stores a month and adding close to ten or 11 points of sales every month.
By the end of the current fiscal, Madame aims to hit a store count of 170.
In the next fiscal, the retailer will be focusing on west and south India to increase sales. For the next 18 months, the plan is to focus on funding the product more than funding assets, work on the asset-light concept and post 2023 or 2024 actually double the manufacturing.
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