The Economic Times reports that the Landmark Group has planned its expansion in anticipation of international retail giants such as Wal-Mart and Tesco likely to enter the Indian market. The company plans to increase its base of its existing retail formats, Lifestyle, Home Centre and Max as well as form agreements with international brands for apparel and footwear brands.
Sundar Raman, Indian operations president (Finance) added that the company is also looking to launching hypermarket format as well as concept stores for high fashion apparel, children and footwear segments. The company will be investing an estimated Rs. 7.75 billion by March 2009, of which Rs. 4.50 billion will be for expanding Lifestyle and Home Centre and Rs. 1.50 billion for Max Retail, its newest retail venture.
Landmark currently has 9 Lifestyle stores, 2 Home Centre outlets and 4 Max Retail stores, which it plans to increase to 25, 9 and 35, respectively. Lifestyle stores will be spread over 60,000 sq ft, Home Centre stores will range from 20,000-40,000 and Max Retail will cover close to 20,000 sq ft of space.
A new retail venture the company is working on is called Splash, a high fashion apparel chain, which will be spread over 15,000 sq ft and have a mix of private labels. Splash will target up-market consumers in metros such as Mumbai, Delhi and Bangalore. Landmark’s is also the franchisee for Kappa and Bossini, both international sportswear and casualwear brands.
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