Max Fashions eyes Rs 3,600 revenue, plans pan-India expansion
Landmark Group’s apparel brand Max Fashions is eyeing revenue of Rs 3,600 crore (approx $507.7 million) for the fiscal year 2018-19 and is looking to further tap the Indian market by opening stores across India.
The company will continue to focus on metro cities for retail expansion, however, to tap the market potential of tier 2, 3 towns it plans to open stores in the East, North, West and Central India in the coming months.
For online growth, Max Fashions is planning to go solo in the Indian market and will continue to develop its own site and app to boost sales. The company also plans to use technology in its stores and bring concepts like a Magic Mirror, QR-code-enabled shopping, and more to India.
The company said: “This year, we are likely to clock Rs 3,600 crore in revenue. We would continue to penetrate in the micro markets of the top 10 cities because we are very strong there. We are also keen on expanding in the East, North, West and Central India, where we have not fully exploited the market potential.
“We do not sell on any of the marketplaces but have built our own site and app. Our online model is currently growing at 60%. Like a lot of large global players, we have gone Omni channel as well, with services like Click and Collect. The Dubai market has one of our very tech-savvy stores, which has a Magic Mirror, QR-code-enabled shopping, etc. We plan to bring that to India."
Max Fashions was launched in the UAE in May 2004 and it has become the largest fashion chain in the Middle East in the affordable section of the market. The brand is present in 16 countries including India where it now has over 200 stores.
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