Max Fashion to add 60 stores, aims 700 crores for kids category

By

Maverick Martins

Published
Jun 2, 2017

Indian retail company Max Fashion, which is owned by Dubai-based $9 billion Landmark Group is planning to expand its presence in India by adding 60 new stores taking the total store count to 250 by end of this fiscal, said a top company official.

The company is also targeting to achieve Rs 3088 crore revenue by end of the financial year 2017-2018 aiming 700 crores from kids catgory.

“We are growing at a rate of 34% year-on-year for the last 10 years and expect to achieve Rs 3088 crore revenue by end of this financial year. We are also planning to launch 60 stores by the end of next financial year by putting an investment of Rs 5 crore for each store. Out of which, 2 and half crore is the capex and 2 and half crore is the working,” Vasanth Kumar, executive director at Max Fashion was quoted as saying by a leading daily.

Max Fashion which operates 190 stores presently is primarily seeing its growth coming from kids wear segment. 

In 2008-2009, the contribution of kids wear segment was 16% to Max’s overall business, which grew to 23% in 2016-2017. Max now aims to achieve Rs 700 crore alone from kids category single category.

“Kidswear is the anchor category for max and provides a visa for the entire family to come and shop at Max,” added Kumar.