Max India targets turnover of Rs 3,000 crore by 2017-18

It has been a 12 long successful years of journey for Max India, a division of Lifestyle International. The brand has been growing at 38 per cent per annum. And by the end of present financial year (2016-17), the store count is expected to reach 190. The brand is targeting a turnover of Rs 3,000 crores by 2017-18 while the current turnover is Rs 1,800 crores.

The success behind the growth of the brand is linked to increase in the number of malls in India. Seventy per cent of Max’s stores are in malls while 30 per cent are standalone stores. It was a conscious decision because they wanted to reach markets which didn’t have malls. In fact, they didn’t want the business to be dependent on malls. As a result of this balance, a slowdown in malls will not affect Max. Interestingly, of the 45 stores slated to open this year, 20 are standalone.

It was the director of Landmark Group, Hariharan Ramanathan who conceptualised Max and the first store opened in 2004 and it entered Indian market in 2005 with a store in Indore. The team in India was appointed in 2005. The pricing model involved an in-house design team, large purchasing volumes, efficient logistics and cost efficient retailing system in the organisation which helps the brand to adapt to changing consumer needs.

The size of Max stores range from 8,000 to 12,000 squre feet and 95 per cent of the merchandise at the store is Max’s private label. It was only in 2011 that the company broke even. Today, MAX Worldwide is present in 16 countries. In India, too, it is present widely across the country, with 145 stores to its credit.