![]() Financial Daily from THE HINDU group of publications Friday, Aug 12, 2005 |
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Marketing
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Retailing Lifestyle to open its value fashion stores next year Our Bureau
Bangalore , Aug. 11 LIFESTYLE, a chain of multi-brand stores owned by the Dubai-based $500-million retail major Landmark, is gearing up to introduce Max, its value fashion retail chain, in India in the first half of 2006. The Max chain of stores was rolled out in 2004-end in Dubai, Abu Dhabi and Sharjah. The stores, which are spread across 25,000-35,000 sq.ft., carry clothing, footwear, homeware and accessories. Lifestyle, which has shifted its operations from Chennai to Bangalore, is planning to increase its outlets from seven to 25 in the country by 2007-08. With it, Lifestyle expects its turnover to touch Rs 1,000 crore during the period from the current Rs 300 crore, according to a company press release. The company, which set up its first store in the country a few years ago in Chennai, has just one stand-alone outlet in Bangalore. But it plans to ramp up its presence in the city to fivestores in two to three years, through a mix of stand-alone models and within malls, said sources. The shift to a 40,000 sq.ft. space in Sigma Tech park in Bangalore will enable Lifestyle International to consolidate all its operations under one roof, including procurement and merchandising.
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