Franchise News India,Franchise In India,Franchise In Delhi,Max Fashion plans to open 1 store every 2 weeks,Landmark Group-owned international value fashion brand Max is on a speedy expansion, with plans to open at least one retail store every two weeks for the next three years underway.

“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,” said Max Fashion India executive director Vasanth Kumar at the launch of its 135th store at DLF Mall of India in Noida. “Tomorrow, we are opening three more stores,” said Kumar.

As per that run rate the brand will be unveiling close to 80 stores by the end of 2018.

“Particularly after Max started in the last 7-8 years, we have seen increasing opportunity to penetrate India and expand,” said Landmark Group director and Ramanathan Hariharan of the development. “[When Max Fashion entered India], there were not too many options for the Indian consumer to experience global fashion tailored to their tastes.”

Max is looking at a capital expenditure of Rs2.5 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 Rs50 crore investments. Already, our base is Rs2,000 crore,” said Kumar. “This year, we will be touching Rs1,800 crore. We are growing at the rate of 38% 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 Eaststores with WiFi connections and video walls that can display models walking down the ramp clothed in its fashion.

“In the Noida store, we are implementing the Max Dubai current identity. The look and feel is far more international and the visual merchandising also comes through well,” said Kumar. “90% of the customers come with smartphones and they are always connected. With that advantage for us, we can push certain communication to them on latest offers,” he added.

“End-to-end, we have to make sure that whenever the customer wants to experience the brand, we give them the opportunity to experience the brand whether they are in the store, at home or on the go,” said Hariaharan. “We are moving towards [features that allow that sort of engagement].”



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