Landmark ventures into Lebanon

The Landmark Group has entered Lebanon, with the first Centrepoint store in Beirut.

Landmark is a retail and hospitality conglomerate in the Middle East and India. Centrepoint is one of the group’s core retail outlets which brings together fashion and convenience through four internationally acclaimed brands: Babyshop (toys, clothing, and furniture for children up to 16 years), Splash (clothing, fashion apparel and accessories for men, women and teens), Shoe Mart (footwear and accessories for men, women and children) and Lifestyle (home décor, furnishing, gifts, makeup and perfumes.)

Spread over two levels, with a total retail area of 44,356 sq. ft., Centrepoint is a leading one-stop shopping destination for the whole family. The store’s launch featured a comprehensive entertainment program with freestyle basketball players, break dancers, ribbon performers, a kids’ corner, a DJ and a live radio show animated by Radio One’s Maximus. Centrepoint currently operates 73 stores across nine countries and aims to provide a complete shopping experience for the entire family - from the latest in fashion and footwear trends, to cosmetics, home accessories and even products for new mothers and children. The group has an aggressive expansion strategy for Lebanon with plans to open 41 stores, including the launch of several new brands of the Landmark Group, encompassing over 340,000 sq. ft. of retail space over the next five years.

The Dubai-based Landmark Group is aiming at growing at 60 percent on a year-on-year basis and is targeting a turnover of Rs 1,700 crores across all its verticals. The conglomerate has retail verticals such as Lifestyle International, Home Centre, Spar and Max. India currently contributes about 10 per cent to the total revenue of the group. Same store growth for the retailer stands at a healthy 23 per cent. Currently, there are 25 Lifestyle stores, six Splash and 34 Max stores. In India, the group has already invested $100 million since 1998 and plans to become a $1 billion company by 2012.