18th August 2021, Mumbai:
Apparel manufacturer and retailer Cantabil Retail plans to expand its ladies store network to 200 from existing 165 over the coming years. Currently, Cantabil operates 320 of its 325 stores. The brand anticipates demand to increase and generate better sales in the coming quarters with festivities around the corner. Online sales are expected to contribute to its topline, says Vijay Bansal, Chairman and Managing Director.
The brand also plans to adopt latest technology and best manufacturing practices to enhance manufacturing capabilities. In Q1FY22 ended June 39, 2021 Cantabil Retail India reported a 124.5 per cent growth in revenues to Rs 28.7 crore, compared to the revenue of Rs 12.8 crore in the corresponding quarter of last year. The brand’s EBITDA improved to Rs 6 crore from Rs 0.5 crore, while loss after tax reduced to Rs 1.5 crore from Rs 7 crore.
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