Financial Daily from THE HINDU group of publications
Thursday, Aug 08, 2002
Corporate - New Projects
LifeStyle to enter Delhi, Mumbai soon
CHENNAI, Aug. 7
THREE years since opening its first store in Chennai, LifeStyle International Pvt Ltd, which operates the LifeStyle chain of stores, is all set to enter New Delhi and Mumbai.
Mr H. Ramanathan, the company's Managing Director, told Business Line the store in Delhi would open its doors for business by mid-October, while the store in Mumbai would be ready by the end of the year.
Located in a mall in the satellite township of Gurgaon, the New Delhi store will cover 54,000 square feet across three levels, said Mr Ramanathan. "It will be the single largest departmental store in and around Delhi," he declared.
The retail chain's first store in Mumbai will also be in a mall in the Mulund locality of the city, Mr Ramanathan said. This store is scheduled to open by mid-December and will be spread over an area of 50,000 square feet, he added.
According to Mr Ramanathan, the company would open another two stores in Mumbai in a year's time. "We eventually plan to have three or four stores in the city," he added. And while the company hopes to add more stores in Delhi, it has not yet identified any suitable locations, said Mr Ramanathan.
Commenting on the merchandising strategy for the two new stores, Mr Ramanathan said there would be some changes from its existing strategy. "The product categories will be the same as in our other stores, but there will be some changes in styles," he said. The new stores will also have `coffee islands' run by the Qwiky's chain of coffee pubs, which operates the cafes in LifeStyle's existing stores.
The company will also look at augmenting its communication and advertising efforts, said Mr Ramanathan. "We need to reach out to a larger number of people in Delhi and Mumbai and will have to put in more effort into advertising and marketing communication," he declared.
Part of the Dubai-based Landmark group, LifeStyle International has three stores in Chennai, Hyderabad and Bangalore. The NRI-owned group has been in the retail business for over 25 years and has a presence in the Gulf states, Lebanon and Cyprus.
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