New Delhi: Apparel retailer Madame is expecting a 40 per cent decline in revenue in the current financial year due to disruptions caused by the COVID-19 pandemic.

There is a slow rise in business number post lockdown. With uncertainty and ad-hoc restrictions being imposed every day across major cities.

he impact is fairly visible with the consumer preferring to stay inside... We expect a 40 per cent reduction in business numbers seeing how the market has behaved in the first quarter and 2 weeks of the second quarter," Madame Executive Director Akhil Jain told .