Lifestyle Intl eyes Rs 600cr turnover

The Rs 340-crore company will be expanding its footprint to cities like Pune, Ahmedabad and Jaipur during the same period.

Addressing the media, Kabir Lumba, president (buying and merchandising), Lifestyle International (P) Ltd, said, "We plan to treble our turnover in the next three years. This year, we will touch the Rs 600-crore mark."

Lumba was in Hyderabad to introduce the Lifestyle's revamped store to the media. The company has used the services of Italian designers for refurbishing the 47,000 sft store that has now been divided into three segments - circulation, retail and island.

An approximate amount of Rs 7 crore has been spent for revamping the store. According to Lumba, the Hyderabad store performs the best among all the Lifestyle stores in the country.

Lifestyle has 10 stores at present across Hyderabad, Chennai, Bangalore, Gurgaon, Delhi and Mumbai. Chennai, which currently plays host to Lifestyle's largest store in the country at 75,000 sft, will shortly pave the way for Noida to take over its position. Lifestyle intends to set up a 1,20,000-sft store at Noida.

"We plan to set up 35 stores in the next three years comprising around 28 Lifestyle stores and around seven home decor stores," Lumba said.

This will involve a total investment of approximately Rs 315 crore for the next three years. Lumba added that they would be bringing in new brands at their stores but declined to divulge the names.