“We plan to add another 45 stores this year making it 225 stores by March 2018”: Vasanth Kumar
In an exclusive conversation with Vasanth Kumar, Executive Director, Max Fashions and EasyBuy, sheds light on the ongoing end of season sale in Max stores across the country.BY Shipra Srivastava | July 14, 2017 | comments ( 0 ) |
Max Fashion being the largest fashion retailer, do you see effect of EOSS discounting on your revenues? Does it help the company in achieving better toplines?
EOSS is part of annual sales plan all fashion brand have including Max. This is essentially to liquidate old season stocks and bring in next season fresh merchandise. Max being a keenly priced Fashion brand, it's reliance on EOSS is less than 10 % . This year too we have planned in than manner and are on track to achieve the same. As a philosophy we don't depend on EOSS to shore up topline for Max. It is always an opportunity to kill our old season stocks and bring in fresh fashion .
Do you think eoss is no longer a waited event because of too frequent sale events organized by retailers?
Over the past 3 years the incidence of SALE has increased in the market particularly with E commerce players being aggressive to gain share . This has lead to Brick N mortar players too to compete and retain their customers share . This has benefited the customers but slowly creating fatigue due to extended SALE and lack of adequate fresh season merchandise from brands . At Max we lay emphasis on launch of next season range first in the market post EOSS. And this was always received well by our customers since our pricing always remains keen and affordable.
Has the GST roll-out has effected your EOSS in any manner? If yes, kindly shed light?
Being a Value fashion entailed with predominantly below 1000/ MRP range , GST has Not affected Max .
Pls mention your most discounted category this season? Is the slab of online is same to your online store or market place?
We discount only slow moving stocks at end of season. And this is across all product categories for Max. The discounting slab for both online and offline are the same. You will get wider assortment online whereas in physical store you can check the product before you buy . Both has its own merits and limitations and customer is free to choose either of the channels
Also how much increased percentage of sale and footfall the brand is expecting this year as compared to last season?
This EOSS is a bit better than last year due to active promotion by both online and offline players. Also Ramadan festival was during this EOSS period. Overall there was 10 % increase in both footfall and sales for Max.
Sale is usually a rushy period for store. Have the brand introduced any sort of technology to ease the in-store rush for consumers as well as staff?
Like during every EOSS, we add temporary trial rooms and cash counters with wireless tills to manage the crowd . We also beef up staff strength during weekends. Our EOSS discounts are pre programmed with post GST prices for all products. Also the individual discounts are mentioned in the product tags. Hence there will be no pricing related delays due to lack of clarity or invoicing at cash counters.
What is your starting and ending dates of EOSS this time? Also, when the company plans to introduce its fall-winter collection?
We started during last week of June and will end by mid July. The fresh season launch of Autumn 17 will happen from July 3rd week.
At last, mention the growth plans of the brand? How many new store of the Max Fashion we will see in this financial year?
We added 40 stores in 2016-17 and plan to add another 45 stores this year making it 225 stores by March 2018.