In Competition: Max Fashion launches first Millennial store in Bangalore

To break out of its Indianised image, Max Fashion is launching ‘Millennial’ stores where 35 per cent of the merchandise will be imported. The first Millennial store was launched in Bangalore recently. Max will launch more stores of 5,000 square feet area in six cities in the coming months. The prices of products in these stores will be 25 per cent more than normal Max products. In the next two years, the company will add another 100 stores for a total investment of Rs 200 crores. The turnover is expected to double from Rs 1,800 crores to Rs 3,000 crores in two years.

Dubai-based Landmark Group’s Max Fashion will be opening 20 franchisee-operated Easybuy stores each year. Easybuy has a bigger apparel market of Rs 1.5 lakh crore. Clothes are priced between Rs 100-Rs 200.

With international brands like Zara, H&M and Gap having made inroads into the Indian retail market, Max Fashion has started feeling the heat, and hence, has taken these measures. Vasanth Kumar, Executive Director, Max Fashion admits that competition from global brands is a reality today. He believes that since Max is a global brand, customers need to see it as such. The new stores will take three years to break even but it is important for the company to take this ‘image building exercise’.