The Hindu Business Line : Lifestyle expects turnover to touch Rs 1,000 cr in two years

LIFESTYLE International is looking at a turnover of Rs 1,000 crore in the next couple of years. The company had a turnover of Rs 300 crore last year and expects to close the year at Rs 390 crore.

The company is planning to set up 25 new outlets during this period, and would also be looking at establishing its presence in tier-two cities such as Jaipur, Ahmedabad, Lucknow, Pune and Jallandhar.

The retail major also has plans of opening more stores in Delhi and Mumbai.

Speaking to Business Line, on the sidelines of a press conference, Mr S. Chandrasekaran, Head (Western Region Operations), Lifestyle International, said that the company is also looking at expanding the network of its home improvement stores, Home Centre by Lifestyle, the first of which was opened in Gurgaon recently. He said that the company is planning to open a 40,000 sq.ft. store in Noida and also one in Chennai.

At the press conference on Thursday, the company announced the launch of a wedding registry service, www.lifestyle.indiawalibrideregistry.com, in association with Ogaan Publication's bridal magazine, Indiawali Brides.

The wedding registry, according to Mr Chandrasekaran, has been planned keeping in mind both the prospective newly weds as well as their guests. The couples initially have to register and select wedding gifts of their choice at any of the Lifestyle stores and also give their guest list, and the retail chain and Indiawali brides would send personalised letters to the guests informing them of the service and wedding dates. The service enables the guests to log on to the Web site and select a gift that has been shortlisted by the prospective bride and bridegroom and the gift would be delivered to them by the store.

Mr Chandrasekaran said this service would help avoid duplication of gifts. "With the organised wedding market rapidly growing every year, we realised that there was a need for specialised services such as this."

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