Madame to open 185 stores by FY23 end
Women’s western wear brand Madame’s parent company Jain Amar Group has created a Rs 28 crore investment plan to expand its brick-and-mortar stores across India and aims to open 185 stores by the end of the 2023 financial year.
Over the past year, Madame expanded with exclusive brand stores, shop-in-shops, and large format stores across India and aims to continue this ambitious expansion over the 2023 fiscal, the business said in a statement. Along with opening 185 exclusive brand outlets, the brand aims to increase its number of points of sale from over 150 to over 800.
“We are very aggressively targeting the expansion of our business and we have already started opening our brand exclusive stores in Tier 2 and Tier 3 cities,” said Jain Amar Group’s executive director Akhil Jain, Indian Retailer reported. “Now, the focus is to get 40% business from these Tier 2 and 3 cities, while 60% business comes from metros.”
The brand expects its turnover to increase year-on-year by 50% this fiscal, fuelled by its brick-and-mortar expansion. Madame will also continue to launch new product lines to respond to consumer demands, such as when it launched a loungewear line during lockdowns and its latest handbags and sunglasses launches.
Madame also aims to expand online. By harnessing the potential of digital and influencer marketing, the brand aims to expand its customer base and connect with young shoppers. Madame is also focusing on keeping prices low despite inflation to encourage brand loyalty.
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