Apparel brand Cantabil Retail has made its debut in the e-commerce marketplace by entering into ventures with Flipkart, Amazon, Snapdeal and Paytm to strengthen its omnichannel strategy.
"E-commerce will play a pivotal role post-Covid for the retail sector as it will play a key role in maintaining market equilibrium," said company's Chief Financial Officer Shivendra Nigam.
"It is expected to bring back the sales for numerous retail players and for us. It will definitely be one of the key growth drivers moving forward," he said.
Director Deepak Bansal said the company is continuously evaluating ways to scale up cost-effectiveness and improve efficiency levels.
"While the pandemic has impacted both consumer behaviour and demand, we strongly believe that with trust and confidence that the brand has garnered over 20 years, we will surely come out stronger and stand in good stead," he said in a statement.
Cantabil Retail is a public listed company under both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). With a network of 300 retail outlets and 2,500 employees across the country, it recorded sales of Rs 290 crore in fiscal year 2018-19.
( With inputs from ANI )