Business Daily from THE HINDU group of publications
Wednesday, Aug 20, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Aug 20, 2008 ePaper | Mobile/PDA Version | Audio |
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Marketing
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Channels and Franchises Max Retail makes expansion plans Bangalore, Aug. 19 Max Retail, the value retailing chain of Lifestyle International Pvt Ltd, is looking at an expansion spree in the country through franchised stores selling Indian ethnic wear and sarees along with its western wear range. The company is piloting two such stores (in Kozhikode and Mumbai), Mr Vasanth Kumar, Executive Director, Max Retail, told Business Line. "Our sarees and ethnic wear will be designed locally and we will fit it in the sub Rs 600 range, like our other offerings," he said. Though the value retailing market in the country is a staggering Rs one lakh crore in terms of value, the organised sector, comprising 4 to 5 players, only account for about Rs 10,000 crore worth of sales. It is estimated that Indians buy four garments a year per person while in developed countries, the figure is around 16 garments. The company is targeting a market share of 4 to 5 per cent by 2012 and hoping to "increase the Indians' consumption by 50 per cent in 10 years". - Our Bureau More Stories on : Channels and Franchises | Retailing
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