Cantabil to expand store network and strengthen market presence
14 November 2024, Mumbai
To capitalis on the emerging opportunities in India’s fashion retail sector, Cantabil aims to expand its store network and strengthen its market presence.
In Q2, FY25, Cantabil Retail India reported revenues worth Rs 151.2 crore and a net profit worth Rs 6.6 crore. In H1, FY25, the company’s revenues increased by 13 per cent Y-o-Y to Rs 279.1 crore while its profit after tax (PAT) rose to Rs 18 crore. The company’s EBITDA expanded by 16 per cent Y-o-Y to Rs 73.9 crore over the half-year period.
As a part of its retail expansion in India, Cantabil has opened 23 new EBOs across various states, including Gujarat, Haryana, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand, increasing its store count to over 550 nationwide. The brand’s volume grew by 29.4 per cent in H1, FY25.
Vijay Bansal, Chairman and Managing Director. Cantabil Retail India, says, in H1. FY25, Cantabil Retail achieved an impressive volume growth of 29.4 per cent. Notably, this success was accomplished despite challenging market conditions and adverse weather conditions, particularly the heat wave in North India and extended monsoon, which impacted consumption.
Bansal outlined the company’s strategic focus on enhancing customer access and brand presence. The company focuses on enhancing customer convenience, reinforcing the brand’s presence, and driving growth through expanded reach; entry into newer markets; diversification across segments and categories and elevating the shopping experience.
Cantabil anticipates consumer spending will improve as the festive and wedding seasons coincide with a favorable economic environment. The combination of above-normal monsoons, festive season, and wedding season is expected to drive improvement in discretionary spending. Additionally, the government focus on consumption stimulus will further boost demand, notes Bansal adding that companies with strong brand loyalty and customer connections are well-positioned to benefit from these conditions.
