{"id":1634,"date":"2012-10-06T05:21:41","date_gmt":"2012-10-06T05:21:41","guid":{"rendered":"http:\/\/www.franchisemart.in\/franchise\/?p=1634"},"modified":"2012-10-06T05:21:41","modified_gmt":"2012-10-06T05:21:41","slug":"max-retail-to-invest-rs-100-crore-in-investment-across-india","status":"publish","type":"post","link":"https:\/\/www.franchisemart.in\/franchise\/max-retail-to-invest-rs-100-crore-in-investment-across-india\/","title":{"rendered":"Max retail to invest Rs 100 crore in investment across india"},"content":{"rendered":"

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\nMax, the lifestyle clothing brand is looking forward to invest Rs 100 crore in the expansion plan in tier II and tier III cities across India by the end of financial year 2013-14. The brand, part of Lifestyle International, has 20 new stores in list in its expansion initiative. <\/p>\n

\u201cWe are in affordable fashion segment and there is a huge growing demand from tier II and tier III cities across India, which we want to tap aggressively,\u201d Vasanth Kumar, executive director at Max retail division of Lifestyle International.<\/p>\n

He said in the past six months, the company has launched seven outlets at Hubli, Mysore, Bareilly, Bhubaneswar, Siliguri, Cochin and Thiruvananthapuram. \u201cWith each store requiring on an average Rs 5 crore investment for stocks and fit outs, we are investing a total of Rs 100 crore to open 20 new stores to expand our footprint pan-India,\u201d Kumar said. At present, it has a total of 60 stores across 35 cities, covering metros and non-metros.
\nNRI billionaire Micky Jagtiani is the owner of the Company. Besides, he also owns $4.7 billion Dubai-based Landmark group, an international diversified retail and hospitality conglomerate. The group runs over 1200 outlets across the GCC, India, Egypt, Turkey, Jordan, Lebanon, Yemen, Sudan, Kenya and Pakistan. Centrepoint, Babyshop, Splash, Shoe Mart, Lifestyle, Beautybay, Iconic, Emax, Home Centre, Q Home D\u00e9cor, Candelite, Max, and Shoexpress, are its retail brands. <\/p>\n

Kumar said Max is a one-stop shop fashion brand offering a range of apparel, footwear and accessories for the entire family. \u201cWe have 3,000 designs across men\u2019s women\u2019s and children\u2019s categories in these segments,\u201d he said.<\/p>\n

\u201cWe have a team of 50 in-house designers in Dubai and India and we get the products manufactured from 120 captive vendors,\u201d Kumar said. The company offers new designs, colours and styles every three months, he said.<\/p>\n

Kumar said the lifestyle market size in India in the Rs 200\u2013Rs 800 per item segment was pegged at Rs 40,000 crore with compounded annual growth rate of eight per cent. \u201cAbout 80 per cent of the business came from unorganised sector and 20 per cent from organised sector,\u201d he said.<\/p>\n

Kumar said the Max retail brand in India was targeting total sales revenues of Rs 800 crore this financial year, up from Rs 600 crore last year.<\/p>\n