Max Fashion is aiming for a revenue of Rs 3088 crore and plans to open 60 new stores in the financial year 2017-2018. The company, which is growing at a rate of 34 per cent year-on-year for the last 10 years, operates 190 stores currently. New stores, to be opened with an investment of Rs five crore each, will take the company’s total store count to 250.
The Indian retail company is owned by Dubai-based $9 billion Landmark Group.Max Fashion is aiming for a revenue of Rs 3088 crore and plans to open 60 new stores in the financial year 2017-2018. The company, which is growing at a rate of 34 per cent year-on-year for the last 10 years, operates 190 stores currently. New stores, to be opened with an investment of Rs five crore each, will take the company's total store count to 250.#
“We are growing at a rate of 34 per cent year-on-year for the last 10 years and expect to achieve Rs 3088 crore revenue by end of this financial year. We are also planning to launch 60 stores by the end of next financial year by putting an investment of Rs five crore for each store. Out of which, two and half crore is the capex and two and half crore is the working,” said Vasanth Kumar, executive director at Max Fashion, according to a leading daily report.
The company feels the growth would primarily come from kids wear segment, which contributed 16 per cent to Max’s overall business in 2008-2009 and 23 per cent in 2016-2017. Max aims to achieve Rs 700 crore alone from this single category, the report said.
“Kids wear is the anchor category for Max and provides a visa for the entire family to come and shop at Max,” Kumar said. (SV)
Fibre2Fashion News Desk – India
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