Max Fashion targets 60 to 80 new stores a year from a base of 540
The retailer points to faster fashion cycles and bigger customer baskets as the drivers behind the expansion.
Max Fashion plans to open 60 to 80 new stores a year, expanding from its current base of 540. Chief executive Sumit Chandna set out the target, tying the pace of new openings to faster fashion cycles and bigger customer baskets.
Max Fashion is owned by Landmark Group. Chandna expects the core Max business to grow in the mid-teens percentage range this fiscal year, with the broader Landmark group growing in the early 20s.
The gap between the two growth rates
The mid-teens figure covers Max Fashion alone. The early-20s figure covers the wider Landmark Group, which spans a broader retail portfolio beyond the Max chain.
The two figures cover different scopes within the same group, and Chandna did not attribute the gap to any single part of the wider business outperforming the core chain.
Chandna pointed to faster fashion cycles as one driver behind the rollout, meaning new stock reaching shelves more quickly than before.
He also pointed to bigger baskets, meaning customers spending more per visit, as a second driver behind the expansion plan.
Neither Chandna nor the source put a number on what a bigger basket means in rupees or in units. No timeline beyond this fiscal year was given for the store count to move from 540 towards the higher end of the range.
The company has not said how many of the new stores will replace existing ones, how many will be in new cities, or what the split will be between India and any markets Max operates outside it.
Chandna did not name specific cities or regions for the rollout, and the source gave no figure for how many of the 540 existing stores are in India against any international markets.
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