Lifestyle International plans 8-9 stores every year

Lifestyle International, owned by Dubai-based Landmark Group, will open 8 to 9 retail fashion stores every year, a company official said on Tuesday.

It has 78 stores across the country, including three in standalone format.

"We plan to open 8 to 9 stores each year across the country -- all in the mall format," Managing Director of Lifestyle International, Vasanth Kumar, told reporters here.

He said that Lifestyle operates in the premium fashion category, having a market size of Rs 40,000 crore. The company has a 10-per cent market share.

Kumar said that in the last four years, the number of malls have doubled, but now, a correction is happening. "By next year, it will stabilise," he said.

 

Asked about prospects amid the slowdown in the economy, he said the company is expecting to clock single- digit growth in the current fiscal in terms of new store openings and revenue.

Kumar said the e-commerce segment constitutes 3 per cent of its total business.