Landmark bets big on Lifestyle

Dubai-based retail and hospitality conglomerate Landmark Group could see its retail business Lifestyle reach around Rs 7,000 crore in India by 2020, backed by an expansion in physical stores and online services.

By A Staff Reporter in Calcutta
  • Published 12.09.18
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Srinivas Rao in Calcutta on Tuesday. A Telegraph picture

Calcutta: Dubai-based retail and hospitality conglomerate Landmark Group could see its retail business Lifestyle reach around Rs 7,000 crore in India by 2020, backed by an expansion in physical stores and online services.

Lifestyle is present across 73 stores, 44 cities and delivers to over 8,000 pincodes, according to its senior vice-president (marketing) Srinivas Rao.

"We have grown at a compounded annual growth rate of around 18-20 per cent over the past few years," said Rao.

"Our aspiration is to reach a business of Rs 7,000 crore by 2020. We plan to open 12-14 stores pan-India this year and have already opened four. Over the next two years, we will be adding 8-10 stores per year and by 2020 we could have 100 stores," Rao said during the launch of festive collections in the city on Tuesday.

Lifestyle also plans to improve its consumer experience and add more services in the future.

"We plan to have an omnichannel presence. We currently have our own web store and plan to add more services for our online customers in the future and digital kiosks at our stores," said Rao.

Rao added that the contribution of sales from online channels, that is currently below 2 per cent, is expected to grow to 10 per cent over the next 3-4 years.