Max Retail Concept looks for investor to widen its network

Michał Meller, co-owner of the Max Retail Concept (MRC) chain of clothes stores, is negotiating with three venture capital funds the terms of investing in his company. MRC plans to develop a 250-strong retail network in smaller towns. "We are also talking to private investors. We need $2-3 million, out of which 70% would be designated for expanding the network. The rest will be used for purchasing a production facility," said Meller. Currently the firm is outsourcing production and, "We do not intend to resign totally from this, but our own facility would allow a more rapid reaction to changing market demand. It takes two-three months with an external supplier," explained Meller. According to his estimates, company turnover should increase from its current zł.18 million to zł.150 million within three years. "The concept is good, but it is not for us," said Grzegorz Bielowicki from the Tar Heel fund. (Puls Biznesu, p. 13) M.M.