Max Retail, part of the $3.2 billion Landmark Group of Dubai, is aiming to double its current turnover of Rs 200 crore in the next 12 months as it opens around 20 more value-fashion stores across the country. The firm, which sees immense potential in the estimated Rs 40,000 crores value-fashion market in India, has invested between Rs 3 crores to Rs 5 crores per store in the 26 outlets it has set up so far. These have come up in malls which are frequented by the upwardly mobile women between 22 to 35 years. Incidentally, this is also Max?s primary target group. According to Vasanth Kumar, executive director, Max Retail (India), out of the 20 stores they are planning to open, nearly to 8 to 10 will have the hybrid model.
The product ratio in Max?s stores across 15 countries is: 20 per cent ethnic, 20 per cent western, 20 per cent children?s wear, 25 per cent men?s wear and 15 per cent footwear.
Max Retail?s Indian turnover accounts for around 9 to 10 per cent of its overall revenue. In the next three to four years the share of India operations is expected to rise to 15 to 18 per cent. Max Retails also has its own labels for men, women and children both in clothes and footwear.
The Landmark Group founded in 1973 is active in retail, leisure, food, hotels and electronics sectors. It currently operates over 550 stores across the region.