Madame plans retail expansion to cater to untapped market segment
Women’s fashion brand Madame plans to continue its retail expansion to cater to the untapped market segment by opening new stores in 2023 with focus on tier 2, 3 cities across India.
The brand opened 18 new stores in states like Himachal Pradesh, Punjab, Madhya Pradesh, Maharashtra, Assam in 2022.
Jain Amar Group-owned Madame claims to have witnessed a 25 percent sales growth during the October-December quarter and expects strong end to the financial year on the back of its retail expansion.
Commenting on the expansion, Akhil Jain, executive director of the Jain Amar Group in a statement said, “Indians love fashion and people living in tier 2 and 3 cities are equally aware of the global fashion trends. They are looking for brands to offer them western fashion options at affordable prices. Madame wants to cater to this segment as a commitment to fulfil the fashion needs of modern Indian women across the country. We are satisfied with our performance this year and look forward to further expand in the coming year.”
Entrepreneur CL Duggar Jain launched Madame in 1993 as a western wear brand. The brand manufactures its clothing in Ludhiana and currently has over 150 exclusive brand outlets across the country, as well as a presence in over 700 multi-brand stores and e-commerce platforms.
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