Lifestyle expects sales to pick up during upcoming festive season
Landmark Group-owned fashion retailer Lifestyle expects demand to pick up through offline and online channels during the upcoming festive season.
Lifestyle has managed to touch 60 percent of pre-pandemic level numbers since the reopening of the markets post-lockdown.
The company’s stores were shut across the country in April and May due to the lockdown, resulting in a complete wipe-out in sales.
“We are expecting demand to recover during the ensuing festive season. In the subsequent months till September, demand for apparels and fashion products touched 50-60 percent of what was there in the same period of the previous year,” Lifestyle CEO, Rishi Vasudev, told PTI.
“This shows there is pent-up demand and people are slowly going for discretionary spending to some extent,” Vasudev added.
The company has also signed Bengali film actor Mimi Chakraborty as its ambassador for the Durga Puja festive season to boost its sales in West Bengal.
Lifestyle commenced its operations in India in 1999 and currently has more than 80 stores in India. The company had reported sales of Rs 8,467 crore ($1.19 billion) with a net profit to Rs 426 crore for the year ended March 2019.
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