Max Fashion to scale up retail, add 50 stores every year

Max Fashion is planning to expand its presence in India by adding 50 stores every year. The company is investing Rs 300 crores to set up 50 large format stores of nearly 12,000 sq ft each across the country this fiscal. While 30 of them have already come up, another 20-odd at an expected cost of Rs 120 crores are expected by the end of this fiscal. A similar number of 50 stores will be added next fiscal.

Max Fashion is owned by the Dubai-based Landmark Group. Max expects to keep clocking a near 30 per cent growth in demand this fiscal. It was established in India in 2006, opening its first store in Indore. Now Max India has over 190 stores in over 60 cities and has witnessed a strong growth in the kids’ wear segment. Max is aiming to earn Rs 700 crores from the kids’ category this fiscal.

Another area Max feels has promise is occasion wear. This includes yoga dresses, fitness dresses, casual wear and outdoor wear. Max is also witnessing an increase in western wear because of its growing acceptance in the family wardrobe and changing preferences of people. Presently, the men’s segment contributes 24 per cent to total sales while western wear is 20 per cent and ethnic wear around 18 per cent.