Aiming to increase its footprint across the country, women wear brand 'Madame' has decided to open 42 new outlets in a bid to take the showrooms strength to 100 in the next one year. Post expansion, the Ludhiana based lifestyle brand is looking to achieve total sales of Rs 100 crore.
"We want to increase our penetration in the Indian market with the opening of 42 more stores by 2010...out of which half will be company owned and rest will be franchise based," Jain Amar Clothing (which owns 'Madame' brand) President RK Bhatt said here today.
The company has proposed to open shops in southern region including Andhra Pradesh, Karnataka, Tamil Nadu to deepen its presence. "Our stores primarily are located in north including Punjab, Himachal Pradesh, NCR, Rajasthan...now we want to move towards southern part of the country for opening our stores," he said.
Presently, it has 58 stores located in 42 cities. The company also yearns for presence in Europe as part of its strategy to cater to the global market. "In the next two to three years we desire to have our stores in Germany, France, Italy and Holland with the association of local partners," he informed.
The company, which attained sales of Rs55 crore from retail operations in 2008-09 is aiming to become Rs100 crore brand by 2010-11. In 2002, the company ventured into direct retailing and opened its flagship store under the brand 'Madame' at Lokhandwala in Mumbai.
