Eyeing a sales growth of 35 per cent, fashion brand Max is lining up Rs 100 crore to open 50 stores across India this fiscal.
The Dubai-based Landmark Group promoted company operates 145 stores in the country. It had reported a turnover of Rs 1,800 crore in the previous fiscal.
The company was launched by the $5 million Landmark Group in 2004, in the Middle East. Over the past 11 years the brand has grown to become the largest value fashion brand in the region.
Max inaugurated its first store in India in 2006. Its business model includes a very strong in-house private label working with an in-house team of designers.
The brand has currently has more than 300 stores across 16 countries including a strong presence in India, UAE, Saudi Arabia, Kuwait, Jordan, Bahrain, Qatar, Oman, Turkey, Lebanon, and Egypt.
According to a PTI report: The firm is bullish on the under penetrated kids wear segment which is growing at over 40 per cent year-on-year for the company, he said.
“At present, kids wear is the fastest growing category for us followed by womenswear and men’s wear. Kids wear segment has been dominated by unorganised players. As kids wear is price sensitive segment, we entered with reasonable priced, high quality products,” Vasanth Kumar, Executive Director of Max Fashion India was quoted by PTI as saying.
Kids wear contributes 25 per cent to Max Fashions’ turnover while womenswear and menswear 40 per cent and 28 per cent, respectively.
In order to cater to the demand of tier-III and tier-IV cities, Max has opened outlets under the Easybuy brand, Kumar said.