Lifestyle International, part of the $7 billion Dubai-based Landmark group, will expand its chain for stores to 100 over two years.
While the multi-brand retail chain consolidates its businesses, Lifestyle will also make the stores more tech-friendly with tabs and kiosks, to offer virtual store experience, trials, and strengthen its private label offerings.
Vasanth Kumar, Managing Director, Lifestyle International, said, “We are adding one store a month, while also innovating to cater to tech-savvy customers. They will be able to access stock in warehouses to using tablets and kiosks in stores.”
Expansion plans
Over the past 18 years, Lifestyle has grown to a network of over 73 stores across 44 cities delivering to over 18,000 pincodes. “We expect the number of stores to grow to over 100 by 2020. Significantly, we will be adding four stores in Hyderabad, three of them along the L&T Hyderabad metro rail malls,” he said.
Speaking to BusinessLine at the Hyderabad store, after the launchof a Melange collection by film star Taapsee Pannu, coinciding with the festival season, he said “Over the years we have consolidated our presence with a wide variety of brands catering to different segments. In our offerings, we display more than 200 brands. Of this the private labels have grown to 30 per cent.”
“Having analysed the pattern of buying and choices people make, we have realised that there is a growing demand for online sales with 70 per cent customers exploring online offerings. While online sales through our omni channel accounts for about 1.5 per cent now, we expect this to go up to 10-12 per cent,” he said.
Kumar said, “We have come out with an innovative click and collect offer which is gaining acceptance.”
“The growth of retail is also being aided by the growing per capita consumption of garments and the fashion cycle is changing at a rapid pace of about 60 days,” he said.
“We now have 42 Home Centre stores and there is huge potential to expand this network too. The organised furniture retail is barely about 10 per cent and the potential is huge,” he said.