Header Ads

Max Fashions to open more stores in non-metros

Related image

Apparel brand Max Fashions, part of Dubai-based Landmark Group, will open more stores in tier II towns in India soon.

Speaking to BusinessLine at the launch of the company’s 200th outlet in India, Raghu Rajagopalan, Chief Operating Officer, Max Retail Division, said 60 of the 100 stores planned for next year will be in non-metros. “This expansion, with each unit worth close to ₹3 crore, will add 30 to 40 cities to our network,” he said.

Rajagopalan said with the advent of mobile internet, penetration of fashion trends is faster in tier II cities. “Around 15 per cent of our profit of western outfits comes from cities like Tiruchi, Madurai and Thanjavur, and we are also looking at smaller towns like Nagercoil and Tirunelveli.”

There are plans to expand EasyBuy, the apparel value retail format of the Landmark group, in the country. Currently there are 33 EasyBuy stores concentrated in the South and North. “This will be further expanded in the two regions,” Rajagopalan said. According to him, EasyBuy format will be replicated in the tier III cities due to their value proposition, which is less than that of Max.

To increase the online traffic, the company will launch the omni-channel ‘Click and Collect’ later this month. The channel will allow the user to browse online and collect the products from physical stores. “This will go live in 200 stores initially,” Rajagopalan said. There are currently 265 Max and Lifestyle stores in India.

The Landmark group in India has a turnover of ₹10,000 crore, with Max Fashions and Lifestyle brand contributing ₹9,000 crore. (Max accounts for about ₹3,000 crore and Lifestyle contributes ₹6,000 crore). EasyBuy’s turnover accounts for about ₹200 crore.


No comments

Powered by Blogger.