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Business EconomyPosted at: Nov 2 2021 5:12PM


Max Fashion to open 35 stores across country this financial year

Panaji, Nov 2 (UNI) Max Fashion of The Landmark Group has planned to open at least 35 more stores across the country during the current financial year, a company official said.
''We have a massive expansion plan. This year we will be opening around 12-14 stores in Karnataka. We have openings of close to around 70-80 stores every year. We have opened 35 stores this financial year in spite of two months of lockdown and we expect this number to double in the rest of the financial year,'' Piyush Sharma, Regional Business Head, Karnataka and Goa, told UNI.
He said with easing of Covid-related restrictions, the stores would be opened much faster.

Sharma said the company was eying tier II or III cities as markets in metro cities were getting saturated.

''We have 37 stores in Bangalore. In metros growth will stabilise over a period of time or will not grow at a fast rate which tier II or III cities will see. In Karnataka, we are focusing on markets like Belgaum or Hubli. Now with the restrictions removed, we would be able to open stores much faster,'' he said.

Commenting on Goan market, he said the strategy had been to be placed in markets which were located at a good distance but at the same time catered to the needs of people.

''We are present in Vasco, Madgaon, Porvorim, Mapusa and Panaji. There are certain markets which are dependent on tourism while there are some with captive customers. For example Mapusa has its own catchment area while Calangute and Candolim have good tourism potential. Bicholim and Ponda too have potential,'' he said.

He said Goa may not be at par with metro cities but it is expanding.

On competition with online retailers, he said both online and offline platforms would exist as the Indian economy was expected to grow further.
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