HomeNewsMadame aims for 27% revenue jump in FY24 to reach Rs 470 crore, says Akhil Jain

Madame aims for 27% revenue jump in FY24 to reach Rs 470 crore, says Akhil Jain

  • June 8, 2023
  • Posted by: Renu Jangra
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Akhil Jain

Womenswear brand Madame is expected to report a turnover of Rs 470 crore in 2023-24 after posting an annual turnover of Rs 370 crore during FY 2022-23. The company is poised for exponential growth and the projected increase of Rs 100 crore reflects Madame’s strong business strategies, said Akhil Jain, Executive Director, Jain Amar Clothing Private Limited. In addition to this, Jain Amar’s EBIDTA has gone up from 9 per cent in 2022 to 12 per cent in 2023, which is in line with the industry average. “We expect this to further improve, with the EBIDTA in 2024 set to go up to 15 per cent, which is above the industry average,” said Akhil Jain.

In order to fuel its future growth plans, Madame is focusing on expanding its retail presence in the South and West regions of the country. In the fiscal year 2023-24, it plans to add approximately 12 stores across eight cities in these regions, taking the total number of exclusive standalone stores to 200. Currently, Madame retails through 500 retail touch points, including 150 Exclusive Branded Outlets (EBOs), Large Format Stores (LFS), and other leading retail outlets.

“Our unwavering commitment to excellence, coupled with our focus on expanding our retail footprint and strengthening our e-commerce presence, will be instrumental in achieving our ambitious goals,” said Akhil Jain. Further, in terms of online retail, Madame’s e-commerce business is contributing around 8 per cent to the company’s turnover and this is expected to reach 10 per cent by 2024, the company said.

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