New Delhi based apparel industry major Cantabil Retail India Ltd. is ready to make its first appearance in the e-commerce market. It has entered into ventures with e-commerce giants Flipkart, Amazon, Snapdeal, and Paytm to strengthen its omnichannel strategy.
With more than 300 retail stores across the country, Cantabil is one of Indias leading apparel brands. The brands decision precedes a series of online-retail initiatives that would be announced over the next year, a company statement said.
Cantabil is a manufacturer and retail discount outlet company. The company is in the business of designing, manufacturing, branding and retailing of apparels under the brand name of Cantabil and La Fanso.
Shivendra Nigam, Chief Financial Officer of the company, said, E-commerce will play a pivotal role post-COVID for the retail sector, as it will play a key role in maintaining market equilibrium. 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 added.
Sharing his views on the implementation of ERP Navision by Microsoft, Nigam stated, ERP Navision was on the card last year and we have been working on this end-to-end automation for making a successful procurement to pay model. The company is doing the required investment so that the supply chain, HR process, back end process, and everything can be customized. Since we are making a foray into online retail, this process will come as very helpful.
Deepak Bansal, Director of Cantabil Retail India further said, While the pandemic has impacted both consumer behavior 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 also mentioned that the company is continuously evaluating ways to scale up cost-effectiveness and improve efficiency levels. Talking about their growth plan, he said As we strengthen our presence both online and offline, we will continue to do whatever it takes to be there for all our customers, employees, and other stakeholders.
Cantabile has unveiled its Spring Summer 20 collection which features an extensive mix of formal-wear, casuals, and ultra-casual clothing for men, women, and children on all the e-commerce platforms. The collection is also available across all Cantabil retail stores.
Coping with the effects of national lockdown due to Covid-19, Cantabil has been able to open all its exclusive brand stores in the green and orange zones. This is in adherence to the guidelines issued by the Central and the state governments, as well as by the local authorities, said the company.
Cantabil Retail India Ltd. was incorporated on 09 February 1989 as a private limited company with the name Kapish Sales Pvt. Ltd. As in 2020, the company is listed under both National Stock Exchange and Bombay Stock Exchange.
On 11 June 2020, the ICRA had assigned a long-term rating of [ICRA] BBB+ and a short-term rating of [ICRA] A2 to the Rs. 60.00 Cr. Line of Credit of Cantabil Retail India Ltd. The Outlook on the long-term rating is Stable.
