Landmark optimistic about India

The Landmark Group is optimistic about growth avenues in India. In fact, the country

is central to its expanding overseas interests and is expected to contribute $1.7 billion by 2014-15. Adding to its optimism is the fact that the Indian government shows signs of scaling down the restrictions on foreign direct investment currently in place. The easing could extend to both single- and multi-brand operations.

By March next year, Landmark intends to double its Spar network in the country to 14 and create 600,000 sq. ft. of dedicated area. Spar is a chain of hypermarkets and supermarkets Landmark operates through a license agreement with the Dutch operator Spar International. Spar offers categories like grocery, fruit and vegetables, bakery, dairy, take away foods, home textiles, personal care and more. To get those competitive prices on its shelves, Max Hypermarkets goes directly to the farms for procurement and then processes them at its own plant. Currently it operates one such plant in Bangalore and is considering setting up another one for its operations in the north.

Landmark also has a subsidiary called Max Hypermarkets which sell mid-priced ready-to-wear. Their outlets are located in Delhi, Pune, Bangalore, Mangalore and Hyderabad. Max is planning to open 25 hypermarkets across India by 2012. Incidentally, they have yet another subsidiary -- Home Centre -- a home furnishing venture.