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

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Textiles | On 26th Apr 2017

Gap, Athleta to increase use of sustainable fibres

Gap, one of the world's most iconic apparel and accessories brand and ...

Textiles | On 26th Apr 2017

Shima Seiki releases Shima KnitPLM software

Shima Seiki Mfg., leading Japanese computerised flat knitting machine ...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Karan Arora
Karan Arora

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search