Apparel retailer Lifestyle International, part of the Dubai-based $3.2 billion (Rs 15,000-crore) Landmark Group, is planning to spread its footprint across smaller cities in the country in a bid to increase its revenue base.
The retailer of branded apparel, cosmetics, footwear and toys plans to enter Tier-II cities like Jalandhar, Ludhiana, Kanpur, Mangalore, Coimbatore, Surat, Bhubaneshwar, Kochi, Jaipur, Vijaywada and Vizag, among others.
"The demand for quality products is growing in smaller cities and we want to have the first-mover advantage," said Kabir Lumba, MD, Lifestyle International (India). The company’s expansion strategy is simple — double the number of stores over three years.
"We will have around 45 retail Lifestyle stores by the end of 2012-13 across 22 cities. The total investment will be around Rs 200 crore," Lumba said. He said the company would retain the strategy of operating from malls.
{{/usCountry}}"We will have around 45 retail Lifestyle stores by the end of 2012-13 across 22 cities. The total investment will be around Rs 200 crore," Lumba said. He said the company would retain the strategy of operating from malls.
{{/usCountry}}At present there are around 22 Lifestyle stores in 13 cities. India currently contributes around 10 per cent of overall revenues for the Landmark group. "We are very bullish about our India operations. Over the next three years we will hire close to 8,000 people," Lumba said.