Max Fashion targets revenue of Rs 5,000 cr by fiscal 2021

February 21, 2017 - India

Apparel retailer Max Fashion is mulling to double its turnover to Rs 5,000 crore by expanding the footprint of its retail store network to 400 outlets in 120 cities. The retailer will invest almost Rs 400 crore to open new stores over the next four years. Additionally, Max is also planning to expand store numbers of its value apparel retail format Easybuy.

"We will close this fiscal at nearly Rs 2,400 crore as against Rs 1,800 crore in the prior fiscal," Max Fashion India executive director Vasanth Kumar told a news agency. “By fiscal 2021, we will be a Rs 5,000 crore company.”

Max Fashion, which is owned by the Dubai based Landmark Group currently operates 190 stores in 75 Indian cities.

The retailer will invest nearly Rs 100 crore for setting up new stores each year, by investing Rs 5 crore to open one new store, which includes Rs 2.5 crore for working capital and the rest on capex. (AR)