Lifestyle India, part of the Dubai-based Landmark Group, is set to reorganize at the top with Kabir Lumba, President (Buying & Merchandising) taking charge as the new Executive Director.
Lifestyle International is in the middle of a mammoth development plan. The group plans to invest Rs 100 crore to commence 50 Max outlets over the next four-five years in the country.
Looking at a bigger retail path, Lifestyle India plans to add further 22 retail stores to eight stores and create six stand-alone home solutions stores - Lifestyle Home Centres - in one and half years.
With the force of this large retail footprint, the company is expected to triple its proceeds in India in coming three years. In the midst of an earnings of Rs 400 crore, Lifestyle India at present accounts for 7.5 percent to the total group proceeds.
The retail string catering to a niche group of clientele is likely to invest Rs 10-15 crore in each departmental store and between Rs 5-10 crore for every home solutions store.
The company has by now recognized Ahmedabad, Bangalore, Chennai, Delhi and Mumbai for mounting its retail presence.
The Group would also spotlight on its international brands business as the key expansion driver. The Lifestyle's complete retail know-how revolves in the region of its five conception - fashion apparel, baby shop, shoe mart, home solutions and lifestyle concepts (cosmetics, perfumes etc).
Its parent, the US $1-billion Landmark Group, is present in eight nations with 400 retail outlets.
marketing@alchempro.com
