Max Retail launches its first Indian store
Indore, Mar 25 (UNI) Max Retail of the Landmark Grou p(Dubai), retail player in the Middle East, launched its first store in the country here today as part of its plan to open 10 stores investing a total of Rs 30 crores this year.
Talking to mediapersons here, Max Retail Stores President Vasantha Kumar said besides one store each in Bombay, New Delhi, Hyderabad and Lucknow, 5 more stores would be opened this financial year with an investment of Rs 30 crore. The company has plans of opening 50 stores in the next 5 years.
Mr Vasantha Kumar said with an objective to offer contemporary fashion at affordable prices Max will create a new segment of value retail in the country.
Of the Rs 85,000 crore apparel segment in India, nearly Rs 40,000 crore constitutes the mid-segment. Max has aimed to cater to this segment, which is estimated to grow at 14 per cent over the next three years, a company release said.
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