08 June 2022, Mumbai:
Jain Amar Group, the parent company of Madame, plans to increase its offline presence with an investment of Rs 28 crore.
Last year, the company expanded its offline reach through exclusive stores, shop-in-shop, and large format stores covering diverse regions and catering to all loyal customers.
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In FY 2022, it managed a turnover of Rs 265 crore on a provisional basis even with the slow market conditions due to the pandemic. However, in FY 2022- 23, MADAME is expecting a 50 percent growth in its turnover.
Now the brand has also moved into the space of accessories like handbags and sunglasses. This segment has shown a promising trend in the recent past and MADAME plans to focus on its growth.
At the same time, the company has also set a goal to expand its digital footprint, leveraging the e-commerce space, by using digital marketing and influencer marketing.
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It also launched its exclusive online store, Glamly.com, and is working towards its expansion as well.
The brand expects a 38 percent increase in Y-o-Y demand as compared to pre-COVID levels. It has been receiving a promising response from the customers at the beginning of the summer season of 2022 and it has recently opened new exclusive stores in many cities.
The parent company continues to work on enhancing customer experience and the learning and development of its human resource. The company, which debuted in 1993 and opened its first store in 2002, now boasts over 150+ unique locations across the country.
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