Lifestyle Stores making a ‘Splash’ across India
By FashionUnited
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Though a new entrant Splash already enjoys a cult following in cities where it is present. “Moving forward, we plan to introduce it in other leading cities of India. Splash is already present in Bangalore, Chennai, Hyderabad and now in Delhi. We will be opening two new stores of Splash this year in Delhi and Pune,” says Suryanarayan.
The brand which currently occupies an impressive retail space of 1.1 million sq. ft. across the country is on an aggressive expansion drive and is set to launch six new stores by the end of 2010-11. Suryanarayan says, “By the year end we will open stores in cities like Nagpur and Ludhiana. Tier-II cities too play an important role in our future plans and we are eyeing cities which offer growth prospects. Earlier this year, we opened stores in Mangalore, Kanpur and Jalandhar. By the end of 2012-13, we plan to open 45 Lifestyle stores across 22 cities.” At the moment, Lifestyle Stores are present across 13 cities.
Lifestyle International is a part of the $3.2 billion Dubai-based Landmark Group. It is the growth driver for the Group in India. It is on course to post its first profit in more than 10 years of operations. Apart from its flagship Lifestyle Store, the company also runs furniture and home supplies store Home Centre. Lifestyle posted a turnover of Rs 1,070 crores last fiscal and is looking at 60 per cent growth this year.
Women’s wear was the first category to pick up post the slowdown and continues to post the highest growth. The company has a significant private labels business, accounting for almost a quarter of revenues.