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Our Bureau

Pune March 8 Lifestyle International (P) Ltd, has opened its first store in Pune.

Talking to presspersons, Mr Kabir Lumba, Executive Director, Lifestyle said the 70,000 sq ft store would offer customers product categories, apparel, footwear and travel accessories, home decor and furniture, infant wear and basics, cosmetics and perfumes. The store has taken in an investment of Rs 10 crore.

Mr Kabir said the highlight of the store would be the stand-alone `home centre by lifestyle', spread over 20,000 sq ft and would be the one-stop destination for furniture, home decor and soft furnishing. For customer convenience, the shop has been divided into three segments - circulation, retail and island. Talking about expansion plans, he said the company aims to have 35 lifestyle stores, 10 home centre stores in the country within three years. It currently has ten exclusive lifestyle stores and five exclusive home centre stores in the country.

The next Lifestyle would be at in Noida within the next two months. It would be opening locations in Bangalore, NCR and Mumbai by March 2008. He said the company would invest Rs 450 crore for its expansion, which would be from equity, debt and internal accruals. Mr Kabir added that the company, which has a current turnover of Rs 500 crore, is targeting a turnover of Rs 1,500 crore within the next three years.

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