Lifestyle International sales jump 12 percent to Rs 8,467 crore

By

Maverick Martins

Published
Oct 3, 2019

Multi-brand department store chain Lifestyle International witnessed a 12 percent jump in its sales to Rs 8,467 crore ($1.19 billion) for the year ended March 2019.
 

The company reported a five percent jump in its net profit to Rs 426 crore during the fiscal while its total expenses for the fiscal were reported as Rs 7,827 crore as per financial data accessed by business intelligence platform Tofler.
 
Lifestyle International, part of Dubai-based Landmark Group attributed the growth to its strategic expansion and strong growth for its brand in smaller towns.

“As a retailer, we would rather be the surest than fastest, and ensure that we open stores at the right location instead of just adding to outlet count,” Lifestyle International's managing director Vasanth Kumar told Economic Times.
 
“Also, Max helped in terms of affordable fashion, especially in smaller towns, while we kept Lifestyle merchandise relevant and trendy that appealed to younger consumers,” he added.
 
Lifestyle, which currently runs 10 private label brands, aims to increase total business revenue from in-house brands from its current rate of 30 percent to 35 percent in the coming three years.
 
The company had entered the Indian market in 1999 and currently has 80 department stores and over 300 outlets of its fashion brand Max.