Max Fashion signs Kalki Koechlin as brand ambassador for festive campaign
Landmark Group’s value fashion brand, Max Fashion has signed actor Kalki Koechlin as the brand ambassador for its latest campaign for the festive season.
This campaign follows Max Fashion’s ambitious expansion strategy to add at least 50 new stores this year, bringing its total to over 550 by the end of 2024. The brand also plans to revamp its existing stores nationwide to enhance the shopping experience for consumers.
The brand’s expansion plans align with its goal to understand evolving customers’ needs, says Sumit Chandna, Deputy CEO, Max Fashion. The brand currently has 520 stores across 200 cities in India, including 42 outlets in Bengaluru alone. Notably, in 2023, it opened its largest store in Kochi, covering more than 25,000 square feet.
Excluding food and grocery, the Indian value retail market is projected to rise to $170 billion by 2026 from $111 billion in FY23, according to a report by Wazir Advisors. This growth will be primarily led by the apparel sector that is projeceted to grow at a CAGR of 15 per cent from 2023-2026.
Max Fashion aims to establish itself as a true omnichannel platform. However, for this, the brand first needs to create an engaging in-store experience, where customers queue up outside the store for its attractive offerings, says Santosh Sreedhar, Partner, Avalon Consulting.
The brand should focus on delivering quality at reasonable prices, fusion fashion or even pure ethnic styles for the masses, adds Abha Wankhede, Associate Professor – Marketing, KJ Somaiya Institute of Management. The brand also needs to expand into the Tier II and III markets, she notes.
Pravin Govindu, Partner, Deloitte India, opines, Max Fashion's success depends on effective cost management across manufacturing, supply chain, and distribution. The brand can consolidate its positon in the value retail market by navigating these challenges and implementing its growth strategy, he adds
