Max Fashion to expand presence in 120 cities across India
Fashion brand Max, part of Dubai-based $9 billion Landmark Group, has plans to expand to over 120 cities across India in the next 4 years. The company is eyeing a turnover of Rs 5000 crores in the next four years and will invest around Rs 400 crore to open new stores in tier I and II cities.
“By FY20-21we would be [an] Rs 5,000 crore company. This year we would close at around Rs 2,400 crore. Last fiscal, we were at Rs 1,800 crore. In the next four years, we would operate 400 stores in 120 cities,” Max Fashion India Executive Director Vasanth Kumar was quoted as saying in an Economic Times report.
“Every year, we would invest around Rs 100 crore for expansion. We invest around Rs 5 crore to open one store, of which Rs 2.5 crore is on capex and the rest is working capital,” said Kumar.
Launched in 2004, Max Fashion is presently operating a chain of 190 stores in 75 cities. Max has added 40 new stores so far in the current fiscal and has plans to open 40 more next fiscal.
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