Credo Brands Marketing, owner of MUFTI, reported Q1 FY24 results with revenue at ₹119.90 crore (-3.23% YoY) and net profit at ₹6.30 crore (-35.71% YoY). The company announced a growth strategy focusing on premiumization and digital expansion. Plans include opening 20 new premium flagship stores, intensifying digital marketing efforts, and adopting an omnichannel approach. Despite current market softness, especially in Tier 2 and 3 markets, the company is increasing marketing investment to 6-7% of revenue, aiming to strengthen its position in the premium fashion segment.
Credo Brands Marketing Reports Decline in Q1 Profitability Despite Stable Revenue Aug 01, 2025