Home / Knowledge / News / Announcement / Max targets Rs 3,000 cr revenue by FY18
Max targets Rs 3,000 cr revenue by FY18
24
Feb '16
Dubai-based retail and hospitality conglomerate Landmark Group's Value fashion brand Max, is targeting a revenue of Rs 3,000 crore by 2017-18 and plans to add around 100 stores in India in the next three years, a top company official said.

"We are growing at 35 per cent CAGR. This year we will be crossing Rs 1,800 crore. We are planning to become Rs 3,000 crore company in the next two years (FY18)," Max Fashion India Executive Director Vasanth Kumar told PTI.

Max, mostly a family-format store, is a $1.6 billion brand across 17 countries. It operates 140 stores across 50 cities in India and plans to take the total to 250 stores by 2018-19.

"We are expanding at the rate of one every two week, around 25 to 30 stores per year. We added 30 stores this year. We should be around 250 stores in the next three years," he said.

The average size of a Max store is 10,000-12,000 sq ft and each store entails an investment of around Rs 5 crore. Max operates in a mid-market industry which is estimated to be around Rs 80,000 crore, largely dominated by organised players.

This is the fastest growing segment in the apparel industry, growing at 10-12 per cent.

In Bengaluru, Max is opening 60 per cent of the stores in high-street and 40 per cent in malls. High-street stores account for a third of the brand's business, Kumar said.

Twenty five per cent of the revenue comes from men's wear, 20 per cent western wear (women), 18 per cent ethnic women's wear, 25 per cent kids wear and 12 per cent footwear and accessories.

The brand gets 30 per cent of business from the youth in its regular store format. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: GOV.UK

E-commerce | On 24th Feb 2021

UK welcomes European Commission's draft data adequacy

The UK government has welcomed the European Commission's draft data...

Pic: Shutterstock

Textiles | On 24th Feb 2021

SACTWU welcomes textiles rebate announced by S African govt

The Southern African Clothing & Textile Workers' Union (SACTWU)...

Pic: Shutterstock

E-commerce | On 24th Feb 2021

Asos relaunches Topshop online after acquiring it for £295

Asos recently relaunched Topshop on its website after acquiring the...

Interviews View All

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Software Firms, Head honchos

Software Firms
Head honchos

AI / robotics may challenge existing long value chains

Abhishek Ralli,

Abhishek Ralli

Founded in 1962 in Agra, Guide Footwear manufactures men’s footwear for...

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

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

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Pranav Mishra, Huemn

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

Leave your Comments


February 2021

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


Advanced Search