Madame expects revenue to jump 27 percent to Rs 470 crore in FY24

By

Maverick Martins

Published
Jun 1, 2023

Madame, a leading women's fashion brand has witnessed strong annual growth for the fiscal year 2022-23 with a turnover of Rs 370 crore ($44.9 million).

The brand expects a 27 percent revenue jump for the next financial year at Rs 470 crore on the back of its retail expansion planned for the year.

Madame will expand its retail presence by opening 12 stores in leading cities in the southern and western regions of India during the current financial year.

The brand will also bolster its e-commerce presence and expects online sales to contribute 10 percent to its revenue next year. Currently, e-commerce contributes 8 percent to the company's turnover.

Commenting on the growth plans, Akhil Jain, executive director at Jain Amar Group in a statement said, “We are excited about the prospects of Madame and the growth opportunities that lie ahead. Our unwavering commitment to excellence, coupled with our focus on expanding our retail footprint and strengthening our e-commerce presence, will be instrumental in achieving our ambitious goals.”

“We remain dedicated to providing fashion-forward women with unparalleled choices and an exceptional shopping experience,” he added.

Owned by the Jain Amar Group, Madame currently has 500 retail touch points, including 150 exclusive branded outlets, large format stores, and other leading retail outlets. It sells online through its website and e-commerce portals.