Landmark Eyes Treble Indian Retail Business

The Dubai-based Landmark Group expects its Indian retail business to
treble in next three years. The company operates chain of Lifestyle
department stores and has launched the home decor retail format ‘Home
Centre’.

The company has launched 14 Lifestyle stores in India and plans to
increase this number to 35 in next three years. It intends to open 15
Home Centres in an attempt to tap the home decor market.

Kabir Lumba, executive director, Lifestyle International said, "We
closed last financial year with Rs 693 crore and aim to treble the turnover
in three years. Lifestyle retails a mix of brand and private labels,
home space are an exciting area as there are few brands."

Lumba maintained that, though the negative consumer sentiments have
impacted per store growth, it still is in healthy two digit figure.
"There is a dip in sales since 4-5 months but it is not as bad
as the last year", he said.

Photo: Bazaar ki Bhangarh Durg – Market street, Bhangarh (July 2021) – img 10 by Chainwit., licensed under CC BY-SA 4.0, via Wikimedia Commons.