With an aim to be a major player in the accessories market in India, women lifestyle apparel brand Madame, has launched its new concept NYCT – a one stop accessories store . The company has opened its maiden store in Jalandar and further plans to roll out four more stores by February 2009 in Ludhiana, Patiala, Gwalior and Muradabad. Depending on the consumer’s response, the company will launch 25 to 30 NYCT stores by FY’09 across the country, informed a top company official.
Explaining the reasons to stick to tier II cities, RK Bhatt, president- marketing head, Madame, said, “We chose tier II cities as they are a good choice for initial thrust and there is huge potential for branded accessories. There is a large vacuum due to unavailability of good quality and range to meet the demand. Through NYCT we plan to make quality fashion accessories available to the women in these cities.”
Moreover, the store under the expansion plan will spread across a retail space of 300 to 350 square feet providing a range of hand bags, belts, caps, scarves; fashion jewellery and more. This will involve the company to make an initial investment of 4 million on each store, disclosed Bhatt.
— Akansha Srivastava