Lifestyle’s profits rise, online retail sales expected to grow

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Lifestyle’s yearly sales are up 12 per cent. This has been the most
profitable retail chain in the country within the apparel and lifestyle
industry. Lifestyle, part of the Dubai-based Landmark Group, operates a
department store chain, the value format Max, and the home furnishing store
Home Centre. While Max contributes in terms of affordable fashion,
especially in smaller towns, relevant and trendy Lifestyle merchandise
appeals to younger consumers.

The first store in India opened in 1999 and has since expanded to 80
department stores and over 300 outlets of Max, a mid-priced fashion chain.
Max’s smaller size has also helped Lifestyle test Tier II and III cities
before opening its flagship format there. Lifestyle, which is present in 44
cities in the country, gets about 90 percent of its business from Tier I
cities and metros. Currently, 90 percent of Lifestyle’s sales are from
offline. But online is expected to rise to 15 to 20 percent in the future.
Lifestyle has also decided to focus on regional communication this festive
season and promoting on social media to attract the attention of younger
consumers who often buy online. It expects growth this festive season to be
in double digits.

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