Max Fashion opened its 200th store in Chennai on Monday, marking the occasion as one of the many milestones achieved in the past eleven years of the brand’s presence in India. Raghu Rajagopalan, who inaugurated the 200th store along with actress Andrea Jeremiah, shared this symbolic opening with his ten-year anniversary with Max Fashion.
Max has seen a rapid growth since its inception. From a growth rate of only 20-25 stores per annum till four years back, to this year, which saw Max double its growth rate by opening 50 stores in this calendar year. Max is planning to leverage on the nationwide acceptance of the brand and focus on continuing the expansion all over India, with a focus on the northern and eastern markets. In fact the 201st store of Max is coming up in Bengaluru at Gopalan Arcade Mall, just two days after the 200th store launch.
Executive Director, Max Fashion, Vasanth Kumar, who is all set to take up the position of Managing Director of Lifestyle International from April 1, 2018 commented, “We expand cautiously, in a manner that our store failure rates are kept under 1 per cent. In addition to that, all our 200 stores are profitable when compared to other retailers. Underlining the fact that we are a 97 per cent private label brand and have a 99 per cent penetration success rate, this serves as testament to the confidence our industry stakeholders have in our business. They are assured about the success of Max in their property, which is the reason behind having another 50 stores in the pipeline by the end of 2018.”
The opening of the 200th store has enabled the brand to take things to the next level. Everything seems to be right in sync – the brand, the people, the transition into omnichannel, the rapid expansion and the awareness towards the brand.
“It has been an exciting journey for me throughout my tenure at Max. First five years at Max were more of a learning curve which involved a comprehensive understanding of the market and the consumers. The last five years have been a growth phase, which entailed associating with brand properties, putting systems in process, supervising cross functioning of teams and delivering the best solutions to the consumers. We are also eyeing a growth of Rs 5,000 crore by 2020”, mentioned COO, Max Fashion, Raghu Rajagopalan.
Max Fashion’s mission has been to establish a customer connect revolving around the idea of making every day fashionable at an affordable price. It has also been about democratizing fashion by addressing the needs of the contemporary middle class and incessantly meeting the emerging needs of customers, not only in terms of fashion but also towards covering their interests, aspiration and careers.
Head of Marketing, Max Fashion, Jiten Mahendra pointed out, “ We are able to democratize fashion for 15 million families and to make this possible the company’s marketing mix is based on engagement and experiential marketing. With the current TVC and Digital campaign #MaxYourLook and #Endlessways Max wants to reinforce its position as an International Fashion brand. Brand Properties is another initiative to target 18 – 24 years, which focuses on design through Max Design Awards, Bollywood through Max Emerging Stars where we help people pursue careers in Bollywood and modelling through Max Elite Model Look. We are extremely happy to see the above initiatives yield us results. Our Digital fashion ecosystem has resulted in 2.3 million followers, Over 200K app visitors everyday and a 60 per cent growth in youth contribution”.
Max is the only brand to address the current aspirational youth as well as establish itself as a destination for a contemporary family. It is a provider of an end-to-end fashion solution for families, yet 70 per cent of its shoppers are below the age of 30. Max sees it as an achievement, as they have seamlessly managed to capture the top of mind awareness of both.