Landmark ready for more brand associations

Dubai-based Landmark Group which operates Lifestyle

department stores, Max apparel stores and Home Centre retail chains in the country targets $1 billion (Rs 5,000 crores) business in India in the next two years, Renuka Jagtiani, Vice-Chairperson of the group said. In the last fiscal, the group had recorded a revenue of about $600 (about Rs 3,000 crores) at 30-35 per cent growth rates.

"India is growing well and we believe it's a big potential market for us," says Jagtiani. Recently, the company announced franchise agreements with French supermarket operator Auchan Group and US-based coffee chain Krispy Kreme. The agreement with Auchan came after its seven-year franchise deal with Amsterdam-based Spar International ended this year. By the last quarter of the fiscal 2012, Landmark will rebrand 13 Spar stores into Auchan and would add 12-15 Auchan hypermarkets in the next one year or so.

Jagtiani also said that the company would look to change the ownership of Auchan once the government decides to open up multi-brand retail to foreign investments. Also, the company is ready for tie-ups with more brands.