Max Retail opens country?s first outlet
MAX RETAIL, a division of Lifestyle International, launched its first retail outlet in India at Treasure Island Mall, MG Road Indore today.india Updated: Mar 26, 2006 14:21 IST
MAX RETAIL, a division of Lifestyle International, launched its first retail outlet in India at Treasure Island Mall, MG Road Indore today.
Lifestyle International is a division of Landmark Group (Dubai), a foremost retail player in the Middle East. Max Retail president Vasanth Kumar told reporters here today that the launch of the brand is well timed as today’s discerning Indian consumer wants to look fashionable and in tune with international styling while being price conscious.
Indore is evolving as Central India’s business hub with increasing disposable incomes and growing consumer aspirations that are in line with the latest trends from the world of fashion. This played a significant role in our decision to make our entry in India through this promising City, he said.
With an objective to offer contemporary fashion at affordable prices, Max will create a new segment of ‘value retail’ in the country. Vasanth Kumar said that the showroom built over an area of 22,000 square feet contains apparel, accessories and footwear for men, women and children. Kumar said that the unique price range of the store covers the entire merchandise in the range of Rs 99 to Rs 599. However some of the smaller accessories are priced at Rs 29 and Rs 49.
The apparel includes ethnic and Western wear with in-house designing and manufacturing from Lifestyle Group. He said that working with an in-house team of designers who have several years of experience in the fashion industry, Max will source its merchandise from India and overseas.
He said that it is estimated that of the Rs 85,000 crore apparel segment nearly Rs 40,000 crore constitutes the mid segment and it is this segment that Max will cater to. This segment is expected to grow at 14 per cent over the next three years. The core target audience for Max will be the young adult in the age group of 22- 35 years.
Max Retail vice president (Operations) Vinesh Singh said that Max retail outlet offers complete attire for contemporary customers. He further said that the growth of malls in the country would provide a good platform for Max stores. The store ambience has imported fixtures, display and layout to enhance the shopping experience of customers.
The Group plans to open 50 stores in the country in the next five years. It has 27 Max retail stores in three countries. Lifestyle International was incorporated in India by Landmark Group, Dubai in 1998. The Landmark Group has 425 stores across the Middle East and India with a turnover of US $ 500 million.