The Hindu Business Line : Landmark Group plans Rs 300-cr expansion

(from Left) Mr H. Ramanathan, Director, Landmark Group, Mr Sankar, Managing Director, Lifestyle, and Mr Vasanth Kumar, President, Max Retail Stores, at a press conference in Bangalore on Friday. - G.R.N. Somashekar

Bangalore , Nov. 25

DUBAI-BASED retail chain Landmark Group will invest about Rs 300 crore in the next five years to fund its expansion in the country.

This includes plans to bring in its concept stores into the country, including the Max chain of value retail stores, Home Centres, Max Hypermarkets and Lifestyle Centres.

Mr H. Ramanathan, Director, Landmark Group, told newspersons here that the company will increase its investments as and when the opportunities come up.

The Max range of value stores, the first of which will be opened in early 2006, will target the mid-market segment in major metros and mini metros. These stores, covering approximately 17,000 sq. ft. each, will be located in malls and high streets and offer clothing, footwear and accessories sourced from India and abroad.

About Rs 100 crore of the Rs 300-crore investment has been earmarked for Max stores, Mr Ramanathan said. The mid-segment is estimated to be worth about Rs 40,000 crore and with organised retail covering just about two per cent, the potential is huge.

Mr Vinesh Singh, Vice-President (Retail Operations), Max Retail stores, said the company would throw open 50 Max stores in the next five years. Landmark is also working on a Lifestyle Centre store to be opened in Bangalore late next year, which will include a Home Centre and a high value food retail store.

The $500-million Landmark Group entered the Indian market in 1999 with its Lifestyle chain of premium stores. It has a presence in five cities through eight stores.

Mr Ramanathan also said the company plans to increase this to 20 stores in the next three years, thus covering Tier II cities in the country.

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