India-based fashion brand Madame has reportedly announced the launch of six new stores in the country.
The stores will open in tier-II cities in different Indian states, Lucknow, Himachal Pradesh, Haryana, Uttar Pradesh, Arunachal Pradesh, and Delhi (NCR).
Madame executive director Akhil Jain was quoted by PTI as saying: “Women’s apparel has seen a growing demand in recent weeks, and Tier II city store walk-ins are at 60% pre-Covid levels.
“We foresee demand to get better by October coming to almost 75% footfalls as of last year.”
Madame has cut back on its expansion plans for this financial year (FY) due to the coronavirus pandemic.
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Additionally, it has modified its plans and will “open only seven new stores in FY21”. It originally planned to launch 22 to 25 stores.
The retailer currently operates more than 150 stores in the country.
Last month, Jain told PTI that the company is expecting a 40% reduction in business numbers.
Jain added: “Our online sales have accelerated during the lockdown… We will also be investing more in online promotions in the run-up to the festive season.
“While many others are contracting their marketing spends, we are redirecting a larger chunk of the budget towards digital. We are also coming up with an omnichannel to reach the customer when the customer is struggling to reach us.”
