News: Dubai firm eyes 100 retail stores in India

(PTI 16/06/2006) Ahmedabad - Dubai-based retail giant Landmark Group will launch a chain of about 100 Max retail stores, which will sell apparels across 20 cities of the country including Mumbai and Delhi.

"We are planning to launch about 100 retail stores in the country within a span of five years," Vasanth Kumar, President of Max Retail Stores, said while addressing reporters here on Friday.

"The Landmark Group, which has 425 retail stores across the Middle East will initially invest Rs 100 crore in India for this purpose in the next couple of years," Kumar said adding that Max will spend about Rs five crore in building one particular store.

"We are planning to expand in a big way in India and capture a large portion of the unorganised retail sector in the country," Kumar said, adding that only four per cent of the retail market in India was in the organised sector.

Kumar was speaking at the launch of Max's retail store in Ahmedabad today. "This is the second store of Max to come up in the country after the one in Indore a couple of months back," he said.

Through these mid-market stores we are targeting the entire family. We will be offering contemporary fashion for men, women and children at prices less than Rs 599 at our stores, Kumar added.