Lifestyle on expansion spree; to pump Rs 450 crore

Lifestyle on expansion spree; to pump Rs 450 croreLifestyle, the retail chain from the Dubai-based Landmark group, has revealed its plans to expand its network beyond the metro cities.

In the domestic market, the company offers a diverse portfolio of core retail brands such as Lifestyle stores, Babyshop, Home Centre, Max and City Max.

The company aims to setup up nearly 44 Lifestyle stores and Home Centers in three years time at an investment of Rs 450 crore. The investment will be funded through equity by the promoters of the company, internal accruals and debt from banks.

At present, the company has 15 Lifestyle stores (large format department store with five concepts under a single roof) and 9 Home Centres (for home products) currently in the country.

The Lifestyle chain was set up in 1999 by the promoters of the Rs 15,000-crore Landmark group from Dubai. The group currently has 750 stores across some nine countries with Kingdom of Saudi Arabia as the largest market.