The Hindu Business Line : Max Retail opens store in Hyderabad

Touted by the Group as a new segment in India, these Value Retail stores would offer contemporary fashion at affordable prices (Rs 99 to maximum of Rs 599). Housed in the newly opened City Centre Mall, the 16,000 sq ft store is the sixth of the 100 planned for the next five years in the country.

The first five stores are operational in Indore, Ahmedabad, Bangalore, New Delhi and Agra. Over the next quarter, Max Retail stores will be launched in Mumbai and Lucknow among other cities.

The company offers apparel for the complete family besides footwear & accessories for all occasions, said Mr Vasanth Kumar, Executive Director, Max Retail.

It is estimated that of the Rs 85,000-crore apparel segment, nearly Rs 40,000 crore constitutes the mid and the bottom segments. Max Retail wants to cater to the mid-segment which is estimated to grow at 14 per cent annually over the next three years. Its core target audience will be in the 22-35 years who are aspirational and exposed to western influences, Mr Vasanth Kumar and Mr C.S. Shekar, Senior Vice-President, Max Retail, told newspersons here.

Launched in early 2004 in West Asia, Max Retail has over 30 stores in five countries.

The Landmark Group (Dubai) is present in India since 1998 through its chain of 12 Lifestyle stores in six cities. With the launch of Max in India, the Group will widen its footprint, they added.

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