Tuesday, April 12, 2022

MADAME Targets 33.3% Growth In e-Commerce Business For 2022-23, Aims To Reach Rs 10 Crores From Glamly.com

MADAME, the flagship brand of Jain Amar Group, is now aiming to leverage the growing e-commerce ecosystem and the online apparel shopping space by targeting 10% of its total sales through digital platforms in the financial year 2022-23.

The company has set an aim for a 33.3% growth in its overall business in the next financial while reaching a sales target of Rs 10 crores on Glamly.com. Currently, for the financial year 2021-22, Glamly’s contribution to the total sales stands at Rs 3 crores.

While the e-commerce ecosystem in India has various big players like Mynta, Amazon, etc., and MADAME has consistently maintained a strong presence on all these platforms, it is now looking to expand its online sales through an in-house e-commerce website Glamly.com.

MADAME customers have been using Glamly.com to shop for the latest collections and the website witnessed a strong momentum during the 2021 summer season. The e-commerce platform also gained more attention during the pandemic period and continues to attract a sizeable segment of customers.

“We are excited about the opportunities that are available to us in the form of e-commerce. Being a brand catering to the young Indian who is fashion conscious and who is doing a lot of her shopping through digital platforms, I think MADAME has a huge potential to grow and capture a sizeable market,” says Sumedha Jain, Head- E-commerce and Marketing. According to IBEF (Indian Brand Equity Foundation) estimates, India's e-commerce business will exceed that of the United States and become the world's second-largest market by 2034. By 2025, the sector is predicted to increase at a phenomenal 19.24 per cent CAGR, reaching USD 111.40 billion.

According to a Unicommerce report, the country's online fashion business rose by 51% in the fiscal year 2021 compared to the fiscal year 2020. This proves the potential of online fashion business in India and MADAME plans to capitalize effectively on this potential by creating its own niche space.

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