Lifestyle International Pvt Ltd, part of Dubai-based retail and hospitality conglomerate Landmark Group, is expected to reach a size of Rs 100 billion in revenues by 2020 in India. Further, it plans to establish its presence in a total of 250 cities in the country in the next two to three years.Max, the value fashion retail chain under Lifestyle International, expects to cross $1 billion in revenues by the year 2022, said a senior official from the company.
Businesses under Lifestyle International include large-format departmental stores (Lifestyle), a value fashion retail chain (Max), home improvement stores (Home Centre), and younger value-format retail stores (Easy Buy), which looks at Tier-II and metro suburbs with a 5,000 square feet space format.
"In 2017-18, between Lifestyle, Max, Home Centre and Easybuy, Lifestyle International Pvt Ltd clocked close to about Rs 67 billion in revenues. This year, we will be above Rs 90 billion. Further, we will be at Rs 100 billion next year, if not this year. Our target is to touch Rs 150 billion in revenues by 2022 as a whole," said Raghu Rajagopalan, president and chief operating officer of Max Retail Division.
"Max will be the first Indian independent mono-brand touching $1 billion in size by 2022 because 90 per cent of our products are single label Max," he added, while speaking on the sidelines of the Chennai Retail Summit, which was organised by the Retailers Association of India (RAI). Almost 85 per cent of the products it sells are manufactured in India.
At present, around three per cent of its business comes from the online channel. The company is targeting to take this figure up to 10 per cent in three years.
The company has around 253 stores at present, and it will be touching around 350 by next year. It is present in 100 cities currently.
"We are looking at servicing 250 cities. Lifestyle will be close to around 80 cities, Max will be 150 cities and almost 100-150 cities will be having Easybuy. With this, we can deliver products in most of the places," Rajagopalan added.