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Landmark Group plans expansion of store count

27
Aug '09
The Landmark Group of Dubai is aiming at its expansion in India, for which it is intending to make investments of about Rs. 2 billion. It is a $3.2 billion group having 60-odd stores in India at present, and plans to add 20-25 more stores in a year focusing on its departmental stores, home décor and value apparel brands such as Lifestyle, Home Centre and Max.

The group currently operating 15 Lifestyle stores, 9 Home Centres, 19 Max Stores and 3 Splash stores, and will increase these numbers to 23, 11, 30 and 7 respectively by opening new stores across the country. It plans to have more of its stores in tier I and tier II cities as it has set its target on the middle and upper middle class segments of Indian population.

India has a relatively high-cost structure compared to the Middle-East. The operating profits in the country are smaller due to the higher rental and energy costs, but the sales here are remarkable. As this is a promising market, the group aims at expanding its business plans here; however, some of its stores in the country will be comparatively smaller than those in the other countries.

The group currently has 750 stores across some nine countries with Kingdom of Saudi Arabia as the largest market, and it is looking forward to penetrate the markets in Egypt and Turkey this year. The group will continue to be aggressive on its investment plans, informed COO, Landmark Group, Ms. Renuka Jagtiani.

The annual turnover of Landmark Group in India stood at Rs. 8 billion in 2008-09, which was 8-9 percent of its overall global turnover. The group is looking to grow its turnover in India to about 25 percent of global sales.

Fibre2fashion News Desk - India


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