SBI Card chief executive officer Roopam Asthana (right) and Lifestyle International president (buying and merchandising) Kabir Lumba in New Delhi on Wednesday. Picture by Ramakant Kushwaha

New Delhi, Sept. 21: SBI Card and Lifestyle International, a multi-brand retail store chain, have launched a lifestyle card ? the first retail store card in the country.

It combines multiple benefits into a single card and at the same time rewards customers by giving certain purchase benefits. The lifestyle card primarily aims to do away with the need of acquiring multiple co-branded cards.

The Lifestyle retail chain, a trademark of Lifestyle International of Dubai, will invest Rs 10 crore for each department store over the next three years to add 25 stores in India. The company is targeting a turnover of Rs 680 crore this fiscal against Rs 605 crore last year. “We have eight stores now. We plan to add 25 more over the next three years,” Kabir Lumba, president, buying and merchandising, Lifestyle International, said.

Lifestyle, which offers a range of apparel, footwear, household items, furniture, health and beauty care products and children’s items under one roof, has stores in Hyderabad, Bangalore, Gurgaon (near Delhi) and Mumbai.New stores will be opened in Ahmedabad, Lucknow, Jaipur and Pune this fiscal.

“We are considering tie-ups with some big names in the industry to increase our credit card base,” said Roopam Asthana, CEO, SBI Card. The tie-up will help SBI Card tap the 3 million customers of the retail store.