Lifestyle plans more stores

Lifestyle International, part of the $3.2 billion Dubai-based Landmark group, is planning

to open 35 to 38 departmental stores, in its various retail formats, in the next three years. The group is entailing an investment of Rs 480 crores for the three year plan. The group has stores such as Lifestyle, Home Centre, Max stores, besides the newly-introduced Splash. Most of the funding would be done through equity, debt and internal accruals. This financial year the firm will open five to six Lifestyle stores, taking the total number to 27.

Positioned as a trendy, youthful and vibrant brand that offers customers a wide variety of merchandise at a value for money, Lifestyle India began operations in 1999 with its first store in Chennai. Currently, there are 15 Lifestyle stores and 8 Home Centre stores across Ahmedabad, Bangalore, Chennai, Hyderabad, Jaipur, Mumbai, Pune, New Delhi, Noida and Gurgaon. The company recently launched its second Lifestyle store at Express Avenue Mall in Chennai that is spread over 80,000 sq. ft. across three floors and offers apparel, footwear, cosmetics etc. It has brought its Splash brand of apparel to Chennai with the launch of this store. Besides this, the group expects over 50 per cent growth in topline this financial year. In 2009-10, Lifestyle posted a turnover of Rs 1,072 crores and expects to cross Rs 1,600 crores in 2010-11.