Dubai- based Landmark Group’s fashion retail company Lifestyle International has announced that it is expecting to touch the Rs. 100 billion revenue mark by 2020 in India. It is also planning to establish its presence in a total of 250 cities in the country in the next two to three years.
The retail brand recently inaugurated its third store in Hyderabad, taking the total to 75 in the country. The total investment for the expansion plan will be around Rs. 600-750 crore.
Lifestyle International operates businesses including large-format departmental stores (Lifestyle), a value fashion retail chain (Max), home improvement stores (Home Centre) and younger value-format retail stores (Easy Buy), that focusses on tier-II and metro suburbs with a 5,000 square feet space format.
The value fashion retail chain under Lifestyle International, Max expects to surpass US $ 1 billion worth of revenues by 2022, a senior official from the company affirmed the media.
“In 2017-18, between Lifestyle, Max, Home Centre and Easybuy, Lifestyle International Pvt Ltd clocked close to about Rs. 67 billion in revenues. This year, we will be above Rs. 90 billion. Further, we will be at Rs. 100 billion next year, if not this year. Our target is to touch Rs. 150 billion in revenues by 2022 as a whole,” said Raghu Rajagopalan, President & COO, Max Retail Division.
Notably, Lifestyle International is making several technology innovations, which is attracting a lot of customers looking for a seamless shopping experience.
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