News: Max Retail plans 100 Indian stores in 5 years

(BL 12/08/2006) Bangalore - Max Retail, a division of Lifestyle International, plans to extend its `value retail' promise to more cities in the country, including tier-II cities. Its third retail store in India was inaugurated in the city on Friday. The target is to have 100 stores in five years.

"We want to concentrate on the mid market, offer value to Indian consumers and provide contemporary fashion for the entire family at affordable prices. Most of our products are priced under Rs 599 so that fashion comes within the reach of an average family," said Vinesh Singh, Vice-President, Operation and Marketing, Max Retail Stores.

The Max Retail Stores sell clothes, accessories, footwear and gift items, mostly in the price range of Rs 99-599. The company is looking to add kitchenware and crockery to its product portfolio.

Spread over 20,000 square feet across three levels, the Bangalore store is Max's first standalone set-up.

Its other two stores are present in Indore and Ahmedabad at premier shopping malls. By the end of this year, Max Retail hopes to be present in eight cities including Delhi, Lucknow, Hyderabad, Agra and Navi Mumbai.

While the average size of the stores in the cities will be 20,000 to 25,000 sq. ft, those in tier-II cities will be in a smaller format (around 12,000 sq ft). Around Rs 2.5 crore will be invested on fit-outs and interiors in each store. Merchandise worth Rs 2 crore will be stocked in every store.

On how the company would be able to offer products at competitive prices without squeezing margins, Vasanth Kumar, Executive Director, Max Retail Stores, said the company was banking on its strong presence in West Asia and support from its parent company.

Max Retail, part of the Dubai-based Landmark Group, has over 30 stores across West Asia.