The Hindu Business Line : Lifestyle International to expand presence

Hyderabad, Oct. 16 Lifestyle International Ltd, part of the $2-billion Dubai-based Landmark Group, is looking at taking the total number of Lifestyle stores across the country to 35 and Home Centre stores to 25 in the next three years.

Currently, the company has 14 Lifestyle stores and seven Home Centre stores. It also has one Babyshop store in Ahmedabad.

Mr P. Rajkumar, President (Home Centre and Babyshop), Lifestyle International, told Business Line, “As per the current estimates, the investment for increasing the number of Home Centre stores is around Rs 200 crore, while on each of the Lifestyle store the average investment will be between Rs 12 and 15 crore.”

The company is looking at raising the funds through internal accruals.

He said the idea is to take the total area covered by Home Centres from the existing 2.5 lakh sq ft across the country to 8.5 lakh sq ft by 2011-12. According to Mr Shankar Suryanarayan, Vice-President (Marketing), Lifestyle International, the average size of the Lifestyle store format is between 40,000 sq ft and 1.25 lakh sq ft, the Home Centre store size varies from 25,000 sq. ft. to 50,000 sq. ft.

“The expansion will initially take place in the key cities across towns and Tier-I cities and then we will expand to the Tier-II cities,” he said.

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