With high operating costs, diminished consumer sentiment, and a vagrant rupee kicking in, Madura Fashion & Lifestyle has headed to the cloud in a bid to open yet another channel to its customers.
The apparel retailer, which is an Aditya Birla Nuvo group company, has quietly rolled out an e-commerce venture called TrendIn. The move has had surprising success so far, according to R. Satyajit, Chief Operating Officer, International Brands, at Madura Fashion & Lifestyle.
“We started it [TrendIn] a few months ago as a way of engaging with our customers. But so far, it has been a pleasant revelation and a pleasant surprise for us. We have plans to accelerate this as well now,” said Mr. Satyajit, who is also in charge of TrendIn, in an interaction with The Hindu on Saturday.
He was here to launch the company’s eight ‘Collective’ stores. TrendIn has been formed as a separate division within the company, and has 30-member team working on its development. According to Mr. Satyajit, the company is hoping that TrendIn will soon account for 3 per cent of its sales, and over a period of five to six years, hit 5-6 per cent of sales.
Madura Fashion & Lifestyle’s international business division, which runs The Collective, a premium chain of stores that retail imported apparel, will take a call on hiking prices only by the end of the year.
“While the rupee depreciation has not affected us yet, when the next import cycle rolls around we will be forced to take a call.”