Max Fashion India to open 1 store every 2 weeks

The company has also planned to renovate its top 30 stores in the country. The stores will imbibe the same technology and interior featured in its stores in the Middle East
Max Fashion India

International value fashion brand Max Fashion India, a subsidiary of Landmark Group is running high on its expansion spree. The company has planned to open one store every two weeks for the coming 3 years.
On the launch of its 135th store at DLF Mall, Nodia, Vasanth Kumar, Executive Director, Max Fashion India said, "Overall, we are able to grow by one store every two weeks and that is the speed which we have set for ourselves even for the next three years."
As per that run rate the brand will be unveiling close to 80 stores by the end of 2018.
"Particularly after Max started in the last 7-8 years, we have seen increasing opportunity to penetrate India and expand," said Ramanathan Hariharan, Director, Landmark Group.
Max has planned a capital expenditure of around 2.5 crore for each of its upcoming stores which will be backed by the revenue from its current stores. "They generate enough cash for us to expand. Opening 25 stores in a year is around 50 crore investment. Already, our base is 2,000 crore," said Kumar.
The company has also planned to renovate its top 30 stores in the country. The stores will imbibe the same technology and interior featured in its stores in the Middle East with Wifi connections and video walls to display models.
The company claims to touch revenue worth 1,800 crore and said is growing at at CAGR of 38 percent every fiscal.
"In the Noida store, we are implementing the Max Dubai current identity. The look and feel is far more international and the visual merchandising also comes through well," said Kumar. "90% of the customers come with smartphones and they are always connected. With that advantage for us, we can push certain communication to them on latest offers," he added. 

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