Home / Knowledge / News / Apparel/Garments / 'Max Fashion Retail is growing at 38% CAGR' - ED
'Max Fashion Retail is growing at 38% CAGR' - ED
08
Aug '14
Mr. Vasanth Kumar
Mr. Vasanth Kumar
“Max Fashion Retail is present in India since the last eight years and over all we are growing at a rate of 38% CAGR and for the next two years too, we expect to operate at close to 40% CAGR”, said a top official of the UAE based apparel retailer.

Vasanth Kumar, ED of Max Fashion Retail since February 2005, revealed this in an exclusive chat with fibre2fashion.

Max Fashion Retail, a division of Dubai based retail giant Landmark Group, was launched in May 2004 as a value-fashion brand for the Middle East market and caters to the mid-market segment. It has over 226 stores across the Middle East, North Africa and India and continues to expand its chain.

When quizzed on the retail growth rate at Max fashion, Vasanth Kumar said, Max Fashion Retail is present in India since the last eight years and over all we are growing at a rate of 38% CAGR and for the next two years too, we expect to operate at close to 40% CAGR.

“Secondly, like-for-like sales of our stores have grown at around 18% per annum. 50% of the 38% CAGR comes from the newly opened stores and the remaining 50% comes from the already existing stores.

“As of now, we have our stores in 43 Indian cities and we have recently launched a new store in Jammu and Kannur in Kerala and are opening one soon in Udaipur. On an average, Max is opening one new store every 12 days.”

“The organised retail sector has grown rapidly in India and share of organised retail sector in India has doubled from 15% to 30%, within the past 10 years”, he added.

Vasanth Kumar is of the opinion that loyalty programs are very important for any brand as there is so much of competition in the market.

Click here to read the whole interview.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 24th Sep 2016

GST Council sets exemption limit at Rs 20 lakh

The GST Council has decided to exempt businesses from the Goods and...

Apparel/Garments | On 24th Sep 2016

DGFT adds new service providers in EPCG scheme

Providing great relief to the job working units in garment clusters...

Apparel/Garments | On 24th Sep 2016

Niti Aayog kicks off Indian ecommerce policy review

A Niti Aayog committee set up for the purpose, held deliberations...

Interviews View All

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
September 2016

September 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search