Lifestyle International, part of the $ 7 billion Dubai-based landmark group, is on major expansion seeking to take its stores from 77 now to over 100 in the next two years.
While the multi-brand retail chain consolidates its business, Lifestyle is looking at making its stores more tech-friendly with tabs and kiosks, offering virtual store experience, apart from strengthening its private label offerings.
Vasanth Kumar, Managing Director of Lifestyle International, said, “We are adding one store a month in the country, while also innovating to be more friendly to tech savvy growing customer base empowering them with access to tablets and kiosks in stores. This enables them to access available stock in warehouses too.”
Over the past 18 plus years in the country, Lifestyle has grown to a network of a chain of over 73 stores across 44 cities delivering to over 18,000 pincodes. “We expect the number of stores to grow to over 100 by 2020. Significantly, we will be adding four stores in Hyderabad, three of them long the L&T Hyderabad metro rail malls,” he said.
Speaking to Business Line in their Hyderabad store after the launch of a new Melange collection by star Taapsee Pannu, coinciding with the festive season, the Lifestyle MD said “Over the years we have consolidated our presence with a wide variety of brands catering to different segments. In our offerings, we display more than 200 brands. Of this the private labels have grown to 30 per cent.”
“Having closely analysed the patterns of buying and choices people make, we have come to realise that there is growing demand for online sales with 70 per cent customers exploring online offerings. While online sales through our omni channel accounts for about 1.5 per cent now, we expect this to go up to 10-12 per cent,” he said.
Towards facilitating this, the MD said, “We have also come out with an innovative click and collect offer which is getting accepted. As a part of adding further convenience we will be adding tabs and kiosks for people to surf and explore products in the stores.'
“The country's retail sector is passing through a vibrant growth phase and offers immense scope to expand. To cater to this latent demand, we are adding stores in malls and busy locations like the ones along the metro lines to expand,” he said.
“The growth of retail is also being aided by the fact that the per capita consumption of garments is also going up in the country and the fashion cycle is also changing at a rapid pace of about 60 days,” the MD said.