MADAME, one of India’s biggest western wear fashion brands, has managed to perform well during the Covid-19 pandemic and continues to grow rapidly as the world now returns to normalcy.
The company managed to keep its market intact, with some setbacks, during the peak pandemic as it focused on e-commerce. Beginning 3rd quarter of 2021, the brand has managed to pick an impressive pace and continues to expand and capture the market.
This can be attributed to the swift and creative decision-making of the management. With the changing customer preference as the work-from-home trend became mainstream, MADAME managed to satiate their need by introducing attire like comfort wear which was suitable for the prevailing conditions. Diversifying and catering to the unique needs of Indian customers has been a strong point of the brand since the beginning.
Jain Amar Group, the parent company of MADAME, has chalked out an investment plan of Rs 28 crore to increase its presence in different cities across the country. Over the last year, the company has already expanded its offline reach through exclusive stores, shop-in-shop, and large format stores covering diverse regions and catering to all loyal customers. 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. It also launched its exclusive online store, Glamly.com, and is working towards its expansion as well.
Akhil Jain, Executive Director of the Jain Amar Group said, “We are very aggressively targeting the expansion of our business and we have already started opening our brand exclusive stores in Tier ll and Tier lll cities. Now, the focus is to get 40 percent business from these Tier ll and lll cities, while 60 percent business comes from metros.”
“To ensure that our customers remain loyal to the brand, we are also providing competitive pricing on our products. While the raw material costs have skyrocketed, we have not increased the prices of our products exponentially. At the same time, our product prices are at least 8 percent lesser than the other international brands that operate in the Indian market. Our focus is to provide the customer with the best quality, design, and that too at an affordable price,” he added.
The brand currently boasts of more than 150+ points of sales across the country and plans to take it up to 800+ by the end of the year. MADAME looks forward to having more than 185 exclusive offline stores by the end of the financial year 2022. The brand is also focusing on sustainable fashion to have a positive environmental impact. It has been launching the Eco-wear fashion range every year which includes clothing prepared from a biodegradable cotton-based fabric.
“We understand the impact of fast fashion on the environment and have been looking for sustainable solutions like using recycled plastic to manufacture clothes. If we achieve that, it will help us in being more sustainable,” he added.
The brand expects a 38 percent increase in YoY demand as compared to pre-covid levels. MADAME 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 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.