Landmark eyes $5 bn revenue with 1,000 outlets

Leading retail and hospitality conglomerate Landmark Group has said it is aiming for a $5 billion turnover by 2015.

The projection comes on the back of the group's milestone accomplishment of establishing more than 1,000 outlets covering 18 million square feet of retail space across its portfolios in the Middle East and India.

The group's growth over the past four decades has witnessed the development of in-house brands that have emerged to become market leaders.

Centrepoint, Babyshop, Splash, Shoe Mart, Lifestyle, Beautybay, Iconic, Emax, Home Centre, Q Home Décor, Max and Shoexpress are some of the home-grown products under the group's umbrella.

In addition, Candelite, the Landmark Group's latest retail offering, is already garnering a market positioning as a first-of-its-kind confectionery and savoury store in West Asia.

Landmark International and Shoe Mart International, the group's franchise divisions, have also strategically invested in acquiring the rights of key global brands.

The latest in these investments is the world-renowned Steve Madden retail franchise across the GCC.

Landmark Group Chairman Micky Jagtiani said: "We started with a single Babyshop store in Bahrain in 1973 with an initial capital of $6,000. Today, we have grown to become a major force to reckon with, in the retail space."

"In the first two decades, we opened a steady number of six outlets. The year 1990 proved a turning point for the group when we shifted our headquarters from Bahrain to the UAE and opened our first Shoe Mart store," he said.

The company's turnover figure for 2010 was not immediately available.

"It was around the same time that we strategically decided to take on an aggressive growth path. Nearly 20 years later, we are indeed proud to have surpassed the 1,000-outlet milestone. We consider our accomplishments as a sign that we are on the right path to achieving some of our ambitious corporate objectives," he added.

In 1990, the group forayed into the Indian retail industry with the Lifestyle department stores.

Over the last decade, the Landmark Group has expanded its footprint in West Asia and North Africa (MENA) region with its entry into Egypt, Turkey and Lebanon.

It has also built a presence in Jordan, Yemen, Sudan and Pakistan. The group most recently ventured into Kenya, in September, 2011.