Landmark Group to invest Rs 140 crore on expansion
Dubai-based Landmark Group has earmarked an investment of Rs 140 crore (approx $20.4 million) for the expansion of its fashion retail brand Lifestyle during the current financial year.
The company is planning to open around 14 stores across the country in the current fiscal with an investment of Rs 10 crore for each of its store. Lifestyle has identified metros and tier I, 2 cities for the next phase of its expansion.
“We are planning to open 12 to 14 stores during the current fiscal. The investment per store will be about Rs 8 crore to Rs 10 crore. The funds for opening the new stores would be met from internal accruals,” Srinivasa Rao, senior vice-president, Lifestyle International Pvt Ltd was quoted as saying by Businessline.
Lifestyle will open its 72nd store in the country at Bengaluru followed by stores in New Delhi, Hyderabad, Chennai and Odisha in the coming months.
Lifestyle recently opened two stores in the country one at VR Chennai shopping mall in Anna Nagar and the other at the Great Mall of Kota in Rajasthan.
Lifestyle had entered India in 1999 and currently has 71 stores in the country. Lifestyle store brings together five concepts under one roof - Apparel, Footwear, Children's Wear & Toys, Household & Furniture and Health & Beauty.
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