Lifestyle’s profits rise, online retail sales expected to grow
By Shubhangi Bidwe
4 Oct 2019
Lifestyle’s yearly sales are up 12 per cent. This has been the most profitable retail chain in the country within the apparel and lifestyle industry. Lifestyle, part of the Dubai-based Landmark Group, operates a department store chain, the value format Max, and the home furnishing store Home Centre. While Max contributes in terms of affordable fashion, especially in smaller towns, relevant and trendy Lifestyle merchandise appeals to younger consumers.
The first store in India opened in 1999 and has since expanded to 80 department stores and over 300 outlets of Max, a mid-priced fashion chain. Max’s smaller size has also helped Lifestyle test Tier II and III cities before opening its flagship format there. Lifestyle, which is present in 44 cities in the country, gets about 90 percent of its business from Tier I cities and metros. Currently, 90 percent of Lifestyle’s sales are from offline. But online is expected to rise to 15 to 20 percent in the future. Lifestyle has also decided to focus on regional communication this festive season and promoting on social media to attract the attention of younger consumers who often buy online. It expects growth this festive season to be in double digits.