Lifestyle International Expects Turnover Of Over $1 Billion In 2016-17
Lifestyle International Private Ltd., which runs Lifestyle and Max apparel chains, sees double-digit like-to-like sales growth as sales pick up this festive season.
The company has been growing at a compounded annual growth rate of 25 percent over the last three years and the turnover will cross $1 billion by the end of the current financial year, Kabir Lumba, managing director of Lifestyle International told BloombergQuint.
The company recently launched its own e-commerce website called Landmark Shop and Lumba said the company is yet to go omnichannel.
Omnichannel is a multi-channel approach to sales that aims to provide the customer with a seamless online and offline shopping experience.
Lifestyle International will continue to see most of its revenue from brick-and-mortar stores for the next three to four years. Currently, the company runs 55 Lifestyle and 155 Max stores, and plans to open around 10 Lifestyle stores and 25-30 Max stores every year, which will involve an yearly investment of Rs 250-300 crore, Lumba said.
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