MADAME Focuses On Growth In Accessories Segment
The western wear fashion brand MADAME continues to grow rapidly and has managed to keep its market intact. Now the brand has moved into the space of accessories like handbags and sunglasses.
Despite the COVID-19 pandemic, the brand managed to grow in a positive way as in the beginning quarter three of 2021, the brand managed to pick an impressive pace and continues to expand and capture the market.
While the segment of accessories has shown a promising trend in the recent past, the clothing brand wants to focus on its growth in this segment.
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.
In order to get 40 per cent business, the brand is aggressively targeting the expansion by opening its exclusive stores in Tier 2 and Tier 3 cities. The company is eyeing to get 60 per cent of the business from the metro cities while 40 per cent from the Tier 2 and 3 cities.
“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 products are prices at least 8% lesser than the other international brands that operate in the Indian market,” said Akhil Jain, Executive Director of the Jain Amar Group.
Divulging further he said, “Our focus is to provide the customer with the best quality, design, and that too at an affordable price.”
The brand currently boasts of more than 140 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 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,” Jain added.
The brand expects a 38 per cent increase in Year-on-Year (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 2022 and it has recently opened new exclusive stores in many cities.
The company continues to work on enhancing customer experience and learning and development of its human resource.
According to India Brand Equity Foundation (IBFF), the apparel industry and textiles in India contributed 2.3 per cent to the GDP of India, 13 per cent to industrial production and 12 per cent to export earnings.
India is the second largest exporter of textile and in few years, the fashion business in the country has been predicted to reach USD 400 million with a year-on-year growth rate of more than 10%.
There are endless opportunities in the fashion industry as umpteen jobs with lucrative salaries are available for creative mindsets.
Fashion design, research, and garment manufacture, as well as textile design, are the most popular fields of employment in the industry.
Consistent Rise In D2C Fashion Brands
All leading fashion brands are setting up their online stores to sell directly to consumers. Fashion is one of the biggest categories with the rising number of D2C players.
Companies have realised that D2C is not just about selling directly or better margins, it’s more about having better control on customer experience, along with full visibility on customer data, and direct access to consumer leverage brand loyalty. This helps brands in planning their future growth strategy.
The D2C adoption has also encouraged companies to increase their investment in technology solutions and establish robust e-commerce operations to meet the rising consumer demand on the brand website.