Max Fashions to partner top eretailers to boost growth

Private label clothing chain Max Fashions, plans to sign an exclusive deal with either Flipkart

or Amazon to sell its merchandise online. The move comes at a time when e-commerce is increasingly becoming a popular medium of retailing and reaching out to consumers. Max Fashions is also aiming to double its revenues to about Rs 2,000 crores by March 2016, partly by opening 100 stores. The company ended last year with 80 stores and revenues of Rs 1,000 crores. The Bangalore headquartered company is reported same-store sales growth of 17 percent this year, despite low consumer sentiment.

Max crossed the Rs 1,000-crores sales mark in FY’14 making it India’s fastest growing apparel brand to hit the mark after it entered the country less than a decade ago. Max's revenue grew double the pace of its other formats – the department store chain and the home furnishings format Home Centre. It has been adding stores aggressively and has worked hard on the fashion quotient with a better assortment. Max now accounts for more than a fourth of the Lifestyle Group’s revenues of Rs 3,750 crores while the department store format clocked Rs 2,300 crores in sales during FY ’14.

Indian billionaire Micky Jagtiani owns the Landmark Group that has brands including Max and Home Centre. Max has hit the sweet spot by positioning itself higher than Fashion at Big Bazaar and lower than Pantaloons and Westside in pricing. It opened its first store in India in 2006.