MADAME eyes turnover of over Rs 350 crore, global expansion on cards
Bengaluru , 29th August: MADAME, one of the country’s leading western wear fashion brands, has performed exceptionally well in the first quarter of Financial Year 2022-23, following which the brand is eying an overall turnover of more than Rs 350 crore in the FY.
The brand is a well-known name among western fashion lovers in the country who look for an affordable and trustworthy manufacturer. This has propelled MADAME to a leading spot in this category over the last decade. In FY 2021-22, the brand had achieved a turnover of over Rs 270 crore, a major feat especially when the markets were facing the twin challenges of inflation and post-pandemic slowdown.
Owing to the constant innovation and adapting to the customer’s needs, the brand is expecting an increase of 25 to 40 per cent in its turnover in the next two years. This year the company has signed-up Ms. Tara Sutaria, a well-known film celebrity and youth icon, as the Brand Ambassador for promoting its products. At the same time, MADAME also has plans to go global in the next three to four years.
“We have emerged as one of the top names in this category and this is all because of the long experience and new energy that we are leveraging for our processes. I think we are ready to now take the next plunge and aim for a global expansion in the medium term. MADAME, as a brand, has huge potential and it is a good opportunity to establish an Indian company in the international markets. We are sure that we will be giving tough competition to the international brands in global markets going forward,” said Rahul Kant, CFO, MADAME
In the short run, the brand has other plans and is focusing its attention on expanding its presence in places like Gujarat, Maharashtra, Goa, Karnataka, Kerala, Bihar, and Jharkhand through first-priority sales. It is also eying a revenue growth of 25 to 40 per cent which seems to be achievable looking at the performance of MADAME in the last few years.
Additionally, the brand is planning to launch Omni setup by Q4 in this financial year and will be opening exclusive Glamly stores in different locations soon. Glamly is the exclusive e-commerce platform for the different brands under the Jain Amar umbrella. Currently, it contributes to approx. 6% of the total turnover of MADAME and this number is also expected to grow rapidly in the coming years as the brand continues to invest in growing its exclusive digital presence.
When asked about the vision for the next quarter, Mr Rahul Kant added: “Our mission is sales enhancement to achieve 100% plus set goal and the vision for the next quarter is to give ultimate shopping experience and latest fashion product offerings to our customers.”
In 1993, the brand was created to meet the fashion needs of progressive and modern Indian women. It has a strong client base and provides high-quality, reasonably priced clothing for Indian customers. MADAME started its first store in 2002, and it now has over 150 storefronts and another 700+ retail touchpoints across the country. A wide range of products are also available online through Glamly.com, the brand’s official digital portal, as well as popular e-commerce websites like Myntra, Amazon, and others.