Madame expects 75% business recovery in Q3

Women’s fashion retailer, Madame, expects 75 per cent business recovery by the third quarter of 2020. So far, the brand year-on-year business recovery amidst COVID-19 stood at 65 per cent and is steadily growing to the previous year’s third-quarter figures. Madame also opened three new stores across India since April 2020 and will launch three more in this quarter, reiterating its faith in a full recovery of buying sentiment.

Akhil Jain, Executive Director, Madame said the brand is seeing a spurt in sales from large format retail stores (LFR), where 70 per cent of customer footfalls have returned by this September. The high safety precautions taken by LFRs have encouraged customers to shop without worries. The online sales through Large Format Stores have also witnessed a 25 per cent growth over the last year. The eCommerce extensions of LFRs like Shoppers Stop online are seeing high growth, and others like Lifestyle have recreated a new shopping experience for online buyers.

Madame has a nearly 55 per cent sales contribution from its winter collection. The brand expects to have appreciable business this winter season, considering that customers might foray into revenge buying. It has also doubled the touch points with Reliance Trends stores.