Splash to pump-in Rs 100 cr in India

Splash, a unit of Landmark group is planning to invest Rs 100

crores in three years to drive a six-fold increase in sales in India. The retailer expects sales to rise 20 per cent this year from about Rs 3,000 crores in 2011, as it expands into new African markets and opens more shops in India.

As a part of its retail strategy, the company will open 30 stores of about 8,000-9,000 sq. ft. each in cities across India over the next three years. Currently, Splash runs seven shops in India, including the one it opened in Bangalore this week. The Dubai-based Landmark Group has posted nearly $5 billion (Rs 27,345 crores) in sales last year from retail and healthcare. The group owns the Lifestyle department stores and Max Hypermarket chain in India.

As of now, India is a minor contributor to Splash’s overall business, which comprises 154 company-owned stores and 60 licensed outlets of brands such as Lee Cooper and Bossini across 12 countries mostly in the Middle East.

According to experts, while debt-driven expansion is harmful during the current economic scenario, with consumers showing low buying sentiment, retailers having positive capital backing should definitely look at opportunities to spread their footprint during such times.