Value retailer Max, a unit of Dubai-based Landmark Group, will add twenty new shops across the MENA region and almost double the number of its stores in India in the next year, its CEO said.
Max is in talks with several mall operators to open new stores in the UAE, including Dubai Mall, following an increased interest in value brands from mall operators and price conscience customers, said Ramanathan Hariharan.
“The market has been very receptive to the concept of value retail,” he said. “From 120 [in MENA] I think in the next 12 months we’ll be at least 140 stores so there is opportunity to grow the brand both in terms of new store opening as well as higher sales in terms of existing stores.”
Max, which was established in 2004, is also ramping up its expansion plans in India where it caters to India’s rapidly growing middle class.
“We are currently 45 stores [in India]. We hope to be 70 stores in the next year. It’s a high growth market because of the huge population and the brand is very relevant for the Indian consumer. It is very price conscience and India has a high middle class population,” said Hariharan.
Landmark, which owns a string of value brands including Splash, Babyshop and Home Centre, has flourished by offering lower-priced products to the mass market.
“The biggest market in terms of population and the size is always the bottom half of the pyramid so as a value player we get an opportunity to cater to more than 50-70 percent of Dubai. Although the consumption and the average spend might not be as high as the top 30 percent, they still constitute a sizable chunk,” said Hariharan.
Landmark has more than thousand existing outlets across the Middle East, India, Turkey and Pakistan, and employs 32,000 staff.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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