Fashion brand Max, promoted by the Dubai-based Landmark Group, will be investing up Rs 100 crore to open 50 stores across the country this fiscal to chase a sales growth target of 35 per cent.
“We will invest Rs 100 crore this financial year to open 50 Max stores across the country. We will focus on the top 50 to 60 cities in India. We are targeting about 35 per cent increase in turnover at Rs 2,400 crore of the year,” Vasanth Kumar, executive director of Max Fashion India said.
Max Fashion operates 145 stores in India. It had reported a turnover of Rs 1,800 crore in the last fiscal. “The company is bullish on the kids wear segment which it believes is largely untapped and which is growing at over 40 per cent annually for the company,” he said.
“At present, kids wear is the fastest growing category for us followed by womenswear and men’s wear. Kids wear segment has been dominated by unorganised players. As kids wear is price sensitive segment, we entered with reasonable priced, high quality products,” Kumar added.
Kids wear contributes 25 per cent to Max Fashions turnover while womenswear and menswear 40 per cent and 28 per cent, respectively.
