Landmark Branded Division, a part of the Landmark Group in Dubai, will introduce two international lifestyle apparel brands in India this year.
MUMBAI: Landmark Branded Division, a part of the Landmark Group in Dubai, will introduce two international lifestyle apparel brands in India this year. The branded division, which is a LMG licencee, will launch a Far-Eastern and an Italian retail brand within 3 to 4 months.
“Bossini is a retail brand from the Far-East and Kappa is an Italian brand. These two brands will be launched in India by the middle of this year,” said a company source.
Spread across 2,000 square feet, these stores will be opened in SEC A cities.
In another development, the Landmark Group forayed into the value retail segment in India with the launch of its first Max retail store at Indore.
Offering contemporary fashion at affordable prices, the 22,000 square feet store is located at Indore’s Treasure Island mall.
“Our products are priced in the range of Rs 99 and Rs 599. The idea is to make fashionable merchandise affordable, yet not compromise on the store ambience by offering global shopping experience for the customer. We have provided imported fixtures and customer-friendly layouts at the mall,” said H Ramanathan, group director, Landmark.
In the next five years, the company will open 50 Max retail stores in SEC A and B cities such as Delhi, Mumbai, Bangalore, Hyderabad, Lucknow, Nagpur and Agra. “The target is to launch 8 to 10 stores every year. The new stores will be opened only in the existing and upcoming malls in the country,” said Vasanth Kumar, president, Max Retail Stores.
Introduced in the Middle East in 2004, there are 27 Max stores in three countries. The cost per store is estimated to be around Rs 3 crore and the company foresees an investment of over Rs 150 crore.
This will be done through internal accruals. Max stores are eyeing annual revenues in the range of Rs 5 to 6 crore. These stores will keep apparel for women, men and children in addition to footwear and accessories.
According to KSA Technopak, the apparel segment in India is estimated at around Rs 85,000 crore and nearly Rs 40,000 crore constitutes the mid and the bottom segment.
“It is the mid-segment that Max will cater to, which is estimated to grow at 14% annually over the next three years. The core target audience will be the young-adult in the age group of 22-35 years who is aspirational and exposed to western influences,” said Kumar.
Working with an in-house team of designers, Max merchandise will be sourced from India and overseas. The designs will come from Dubai and sourcing will be done from vendors in Far-East besides those in India. Imports will constitute 15-20% of the entire inventory and will mainly comprise products for infants.
The Landmark Group has presence in India since 1998 through Lifestyle International (P) Ltd, which operates a premium chain of nine Lifestyle stores in five cities. With the launch of the Max store in India, the group expects to widen its footprint covering two distinct and fast growing segments - premium and mid-market - of the Indian retail industry.
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