Originating in India in 1999, Lifestyle is a retail fashion brand that comes under the Dubai-based retail and hospitality conglomerate, Landmark Group.
The lifestyle inventory consists of several national and international brands, and its product categories include Indian, western clothes and footwear, beauty products, and fashion accessories for men, women and children.
In India, Lifestyle Shop is part of Lifestyle International Pvt. Ltd., with sibling brands Home Center, Max and Easybuy.
Lifestyle International Pvt. Ltd. has witnessed a compound annual growth rate of 25% over the last three years, and has been ranked 10th in the list of Best Companies to Work in 2015.
Video Lifestyle (department store)
Overview
Lifestyle opened its first store in India in 1999. Each Lifestyle store offers five concepts under one roof - Women's Clothing, Clothes and Clothing, Children, Footwear, Beauty and Skincare.
Lifestyle International Pvt. Ltd. is headed by Vasanth Kumar, who is the Managing Director of the company.
Business Landmark Group in India, which started with Lifestyle store, has now expanded to include Home Center, Max, and Easybuy. The Group's launch into e-commerce in India began in January 2016 with Landmarkshops.in, which was replaced by two separate branded sites and apps for Lifestyle and Max in January 2017.
Maps Lifestyle (department store)
Company Growth
Lifestyle International Pvt. Ltd.saw growth of about 24% in fiscal year 2016 to cross Rs. 7,000 crore marks. Lifestyle aims to achieve 20-25% growth every year over the next few years, to make itself Rs. 8,000-8,500 companies crore in the coming years.
Retail Stores by Lifestyle
Lifestyle stores have multi-level storefront formats, which are usually spread over two or three floors that provide a square outline, allowing customers to view a product's piece at a single glance.
The company sells national and international brands, which make up 75% of their stock, along with its brand label that brings about 30% of revenue and accounts for 25% of in-store stock. Personal lifestyle labels include brands such as Melange, which has become a brand of 150 crore with eight exclusive stores in India.
Lifestyle International sees most of its revenue from brick-and-mortar stores, consisting of 63 Lifestyle stores. The retail chain has already been established in 1 city level, and plans to develop stores in 2/3-tier cities such as Nagpur, Jaipur and more recently, Visakhapatnam and Nashik. Each store is expected to burden the company around Rs. 10 crore to set, on average.
New Store Opening
The 55th storey lifestyle opened on September 6, 2016, at Phoenix Marketcity, Whitefield, Bangalore. Inaugurated by Bollywood actor and Melange brand ambassador, Kangana Ranaut. In addition, another store was unveiled at the Waltair Plateau in Vishakhapatnam by actor Rana Daggubati on March 24, 2017.
Employee Benefits Initiative
After a high level of employee reductions by 2015, the company decided to offer flexible working hours and provide medical facilities for its front-end staff, among other benefits. With that, the company has managed to reduce the erosion rate to 35% by 2017, from 80% in 2005, while the industry average is still 50%.
Welfare initiates called 'LIFE'and' LEAP 'are run by the company. LIFE stands for Learning - Carrying out - Fastrack - Experts and LEAP for Education Landmarks are two in-house programs that provide technical and soft skills to front-end employees and enable them to earn degrees in retail management, respectively.
The company also organizes employee appreciation programs such as Oscar Award Lifestyle, Clash of Icons, Making the Difference; Long Service Incentives and rewards are given periodically to eligible employees. The Company Theater is another informal learning technique used by Lifestyle to educate, entertain, and engage its employees.
Corporate Social Responsibility
Spreading awareness about diabetes, Landmark Group has held several editions of the 'Beat Diabetes' campaign which involves setting up a free glucose screening test counters at Lifestyle and other stores under the brand. The sixth and final edition of the campaign was held in November 2015 and has Anju athlete Bobby George and film actress Amulya and Samyukta Hornad joining.
Home Center Store
Home Center is part of the Lifestyle store chain in India. It has centers in UAE, Bahrain, Saudi Arabia, Qatar, Oman, Egypt, Kuwait, and India, the Home Center reaches over a retail area of ​​over 2.4 million square feet.
Home Center by Lifestyle sells furniture, furniture and home decor. This brand has been awarded as the 'Most Admired Reseller' at Home & amp; Category Increased Office, for two consecutive years in 2008 and 2009.
For more information - Home Center Stores
See also
- List of department stores by country
- Shopping center
References
External links
- http://www.lifestylestores.com
Source of the article : Wikipedia
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