FFeb 18, 2013: Lifestyle International Pvt. Ltd part of the Landmark Group based in Dubai which launched its operations in 1999, is planning to invest Rs.600 crore in coming years so as to expand its base across various cities. Retail sector in India is going to witness a heavy churn in the next couple of years because of the FDI proposal which has been cleared by the Indian government. According to Mr. Kabir Lumba, Managing Director, Lifestyle, “Even during the current slowdown, retail industry has not reported drop in sales. Though the sales have been flat, there is no large scale down trading happing in the industry”.
Lifestyle International which clocked a turnover of Rs.3,000 crore in 2012 up from Rs.2,500 crore in 2011, has been growing at an average 30-40 per cent in India since last four five years and expects the market to pick up in times to come. The company grew at 25 per cent in 2011. Lifestyle International has been growing consistently all these years and has got different store formats for e.g., Lifestyle Stores, Home Centre, Max and it also has got international brands like UCLA and Bossini under its umbrella.
The company has presently got 35 Lifestyle outlets, 72 Max outlets and 15 Home Centres. Lifestyle is planning to invest approximately Rs.200 crore every year for next 2 to 3 years for expansion.
