The pandemic we have been struggling with for over 4 months now has brought many big changes in our lives. Most brands and businesses have shifted their focus accordingly.
Fashion clothing label Madame too jumps on the bandwagon.
As informed by Akhil Duggar Jain, the Executive Director of the brand, Madame now plans to give priority to sustainability model of business and will take to cost optimisation.
In its interaction with IANS, Akhil further underlined that the company’s expansion plans for this financial year will take a backseat now.
While the apparel major had earlier planned to open 22-25 stores in 2020, it will now open only 7 new stores in FY 2021.
As far as cost optimisation is concerned, Akhil shared that Madame will also improve its back-end operations and the logistics segment.
“Everybody, especially our company is working more towards the sustainability model. Because, the impact is not just on us, the impact is on 2,000 employees, their families,” said Akhil.
The company will be more concerned about the profits as compared to the revenues, he added.
Akhil is quite hopeful that the upcoming festive season will help the business pick up.
He predicted that around a year from now, during the second quarter of the next financial year, the market will be witness to a full recovery.
