Max Fashion aims to be India’s first billion-dollar fashion brand
Landmark Group’s apparel brand Max Fashion will be investing heavily on marketing and expansion over the next three years in India as it aims to become the country’s first billion-dollar fashion brand.
The company plans to enter 20 new markets during the financial year 2019-20 to achieve its target. It currently has a presence of around 280 stores in India.
Max Fashion has already invested around Rs 50 crore ($7.3 million) on marketing activities in the country to boost its customer engagement and community building. Currently, the brand has a customer base of 10 million and aims to add over a million new customers every year.
“We want to be India’s first billion-dollar fashion brand in the next three years. In the last two years, the brand has entered 50 new markets and will enter 20 new markets in FY20. The brand [has been] growing at the rate of 32 percent for the past 10 years,” Jiten Mahendra, vice president marketing at Max Fashion, told the Economic Times.
“We turn our stock so rapidly that, in around six weeks, our store collection changes completely and are aiming to create more than 20,000 new designs per year,” he added.
Max Fashion was launched in the UAE in May 2004 and has become the largest fashion chain in the Middle East. It has over 400 stores across 19 countries and is eyeing revenue of Rs 3,600 crore ($507.7 million) for the fiscal year 2018-19.
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