Max aims to double turnover by 2021, eyes tier I & II cities for growth

By

Maverick Martins

Published
Jun 16, 2017

As the online fashion market is spreading across tier II and tier III cities, offline retailers are joining the bandwagon and exploring the potential of these cities for growth. Landmark Group owned fashion brand Max is planning to invest around Rs 400 crore over the next four years to open new stores in tier I and II cities, a news agency reported, quoting Max Fashion India Executive Director Vasanth Kumar.

Tier I & II cities were the major GMV contributors in the fashion market in FY’2016 owing to the availability of personal disposable income with the people residing in these cities coupled with the high awareness. The most common products bought in these cities were also fashion items including apparels, footwear and bags.

It is no surprise that Max fashion is looking at these cities to double its turnover to Rs 5000 crore in the next four years from the current Rs 2,400 crore.

Max Fashion also plans to boost its kids category and expects to generate a revenue of Rs 700 crore of this category alone.

Max was established in India in 2006, opening its first store in Indore. Now, Max India has over 190 stores over 60 cities. The company had earlier announced that it will add 60 new stores by putting an investment of Rs 5 crore for each store by end of this financial year.