Lifestyle Plans Expansion
Lifestyle International, the Bengaluru based retailer has set a target of becoming a billion dollar (nearly Rs.6,750 crore) company in turnover by March 2017 adding more stores, according to company sources.
“This will be the most aggressive expansion of the company post 2010. Our expansion plan is firm. We have been on track. But sometimes malls get delayed, company’s MD, Kabir Lumba said.
The company clocked a turnover of Rs.5,700 crore in the last financial year. Lifestyle International operates stores under Lifestyle, Max and Home Center across major cities in the country. The company plans to open around 25 to 30 Max stores, 10 to 12 Lifestyle stores and 3 to 4 Home Center forum in tier I and II cities including Bengaluru, Delhi, Agra, Indore, Lucknow and Howrah.
“We started getting into tier II towns sometimes back and we are witnessing healthy traction across all regions for both tier one and two cities,” Lumba said. Company currently has around 230 stores across Lifestyle, Max and Home Center formats in India.