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OFFERING high quality fashionable products at great prices, Max Fashion has launched its first store in Malaysia at IOI City Mall, Putrajaya. Max Fashion is part of the Landmark Group, which is one of the largest retail conglomerates in the Middle East and India with its headquarters in Dubai, UAE. The store was launched by Landmark Group group director and board manager Ramanathan Hariharan. Also present was artiste Scha Al-Yahya. “Max Fashion started in Dubai in 2004 and this year marks our 13th year in the fashion and footwear industry. “We offer our customers trendy and fashionable items but at very reasonable prices,” said Ramanathan, adding that Max currently has a total of 400 stores with 10 million loyal customers. Offering well-designed products at a bargain, Ramanathan believes there is an immense potential for growth and is looking forward to expanding to other parts of the country, especially in the Klang Valley. “I believe this is the right time for our brand to enter the Malaysian market and I am very excited to engage with the customers,” he said. Max Fashion hopes to provide the best shopping experience for their customers.
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Record low growth in online fashion sales during May Online fashion sales achieved a record low level of growth in May, as the snap general election and rising inflation took its toll on consumer confidence. According to the IMRG Capgemini eRetail Sales Index, online clothing sales achieved a growth of +7.6% which is the lowest rate of growth recorded in this history of the Index, which began in April 2000. Overall online retail sales achieved a growth of +10.2%, which was the lowest rate of growth since October 2015 (when it was +8.7%). Historically the Index has always shown a slowdown in growth prior to a general election but inflation rising to 2.9% in May, as retailers pass on their increased input costs due to the weakness of sterling, is also likely to have been a factor. IMRG editor Andy Mulcahy said it would now be watching carefully to see how consumer confidence fares now the election has resulted in a hung parliament. “Shopper confidence tends to take a hit just before an election so, while the fact we were actually having a general election may have been a surprise, a drop in online retail sales growth preceding it is not,” he said. “Growth usually rises again soon afterwards – even in July 2016, the month after the Brexit vote and all the uncertainty that came with it, sales were up +18.6%. The issue this time is that we now have a hung parliament, which leaves all political options still available, including the potential for yet another general election in the near future. 2017 is certainly turning out to be a very challenging year for retailers to navigate,” Mulcahy added.
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