Max Fashion to open 20 stores, expects Rs 3000 crore turnover this fiscal

By

Maverick Martins

Published
Oct 23, 2017

Indian retail company Max Fashion, which is owned by Dubai-based $9 billion Landmark Group will be adding 20 new stores this year with an investment of Rs 120 crore (approx $18.5 million and eyeing a turnover of Rs 3000 crore ($461.5 million) in this financial year, said a top company official.
 

Max Fashion is planning to expand its presence in India by adding 50 stores every year with an investment of Rs 300 crore ($46.2 million) per annum.
 
The company is expecting a 25 per cent growth in turnover to ₹3,000 crore in this financial year. Max Fashion sales revenue in the last financial year stood at Rs 2,400 crore (approx $369.1 million).

“The company is investing ₹300 crore 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 ₹120 crore are expected by the end of this fiscal. A similar number 50 stores will also be added next fiscal (FY-19),” Vasanth Kumar, Executive Director, Max Fashion was quoted as saying by the Hindu Businessline.
 
“GST roll out has minimum disruptive effect, especially in terms of demand. Max expects to keep clocking a near 30 per cent growth in demand this fiscal,” added Vasanth Kumar, Executive Director, Max Fashion.
 
Max was established in India in 2006, opening its first store in Indore. Now, Max India has over 190 stores over 60 cities and has witnessed a strong growth in the kids wear segment. Max is aiming to achieve Rs 700 crore (approx $107.7 million) alone from the kid’s category this fiscal.