Vasanth Kumar to step down as managing director of Lifestyle International
Vasanth Kumar will be stepping down from the position of managing director at Dubai-based fashion retail chain, Lifestyle International -- owned by Landmark Group.
Kumar has been associated with Lifestyle for the past 15 years and will end his stint with the company as the managing director in June 2020.
Kumar will continue to support the company until a suitable successor is appointed and inducted in to this position.
Confirming the decision, H Ramanathan, chairman of Lifestyle International Pvt Ltd-India in a statement said: “Kumar has spearheaded and established several brands under the Lifestyle portfolio including Max and Easybuy. In the past two years, he has driven the consolidation and growth of Lifestyle and Home Centre significantly. We immensely value his contribution and will continue to draw support from his vast industry knowledge and expertise.”
Kumar added: "I had to take this decision to rebalance my personal commitments and professional aspirations. I am thankful to the board for allowing me to do so. I shall continue to support Landmark Group in ensuring a seamless transition and continued growth.”
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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