India : Max to open 50 new stores for 35% sales growth target

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Max to open 50 new stores for 35% sales growth target

09
May '16

Courtesy: Landmarkgroup

Fashion brand Max, promoted by the Dubai-based Landmark Group, will be investing up Rs 100 crore to open 50 stores across the country this fiscal to chase a sales growth target of 35 per cent.

"We will invest Rs 100 crore this financial year to open 50 Max stores across the country. We will focus on the top 50-60 cities in India. We are targeting about 35 per cent increase in turnover at Rs 2,400 crore of the year," Max Fashion India MD Vasanth Kumar said.
Max Fashion operates 145 stores in India. It had reported a turnover of Rs 1,800 crore in the last fiscal.

The company is bullish on the kids wear segment which it believes is largely untapped and which is growing at over 40 per cent annually for the company, he said.

Kumar said that kids wear which is dominated by unorganised players, is now the fastest growing category for the company, followed by womenswear and menswear. He said since kids wear is price sensitive segment, Max has forayed into the segment with reasonably priced, high-quality products.

While kids wear contributes 25 per cent to Max Fashions' turnover, womenswear and menswear account for 40 per cent and 28 per cent, respectively. (SH)

Fibre2Fashion News Desk – India

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