Landmark Group-owned international value fashion brand Max plans to open at least one store every two weeks for the next three years.
“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,” company’s executive director Vasanth Kumar said at the launch of its 135th store at DLF Mall of India in Noida. As per that run rate the brand will be unveiling close to 80 stores by the end of 2018, he said.
“Particularly after Max started in the last 7-8 years, we have seen increasing opportunity to penetrate India and expand,” a company spokesman said.
Max is looking at a capital expenditure of Rs 2.5 crore for each of its upcoming stores which will be funded by revenue from its current stores. “They generate enough cash for us to expand. Opening 25 stores in a year mean Rs 50 crore investments. Already, our base is Rs 2,000 crore,” Kumarsaid. “This year, we will be touching Rs 1,800 crore. We are growing at the rate of 38 per cent CAGR every year.” Max Fashion’s top 30 stores in the country, like its recently launched outlet in Noida, will get a makeover to imbibe the technology featured in its stores in the Middle East with WiFi connections and video walls that can display models walking down the ramp clothed in its fashion.