Companies

Landmark to invest Rs 50 crore on expansion

Alka Kshirsagar Pune | Updated on March 12, 2018

A view of Landmark store in Chennai.   -  The Hindu

Landmark, which has metamorphosed from a book shop to a leisure store, will invest around Rs 50 crore over the next two years to launch an additional 7-8 large format stores, taking the total number of stores in India to around 38.

“We have crystallised the large store as the one that works well, and it’s the format we want to propagate going ahead,” Mr Ashutosh Pandey, COO, Landmark, said.

He was speaking at the launch of its 29th store and the 18th large format one at the upmarket Phoenix Market City in Pune.

Calling the 14,000-16,000 sq ft as the most scalable model, Mr Pandey said that the introduction of eight different categories, including sports and gaming in a single store, had helped promote it as a destination for the entire family, and contributed to its success.

Landmark’s latest initiative will be to add a corner for serving out small eats, frozen yoghurts, smoothies and coffee. “We will implement this here (Pune) to begin with,” he said.

The company is also in the process of revamping its online store. “We have a legacy of 4.5 million books, and we are adding new categories like mobile phones, music CDs and gaming,” he said, adding that the revamped virtual store will go live in a couple of months.

The company, a subsidiary of (Tata) Trent in which TVS Capital holds 24 per cent stake, earned a revenue of Rs 260 crore in the last fiscal. It expects to touch Rs 350 crore during the current financial year.

Published on August 13, 2011

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