fashion retail and mall manaement

19
1 CONTENTS S.No Topic Page No. 1. Corporate History 2 2. Awards 3 3. Organisational Structure 4 4. Vision, Mission and Policy 5-6 5. Corporate Social Responsibility 7-9 6. Product Mix 10 7. Customer Profile and Pricing 11 8. Store Location 11 9. Competitive Analysis 12-16 10. Expansion Plans 17-18 11. References 19

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Page 1: fashion retail and mall manaement

1

CONTENTS

S.No

Topic

Page No.

1. Corporate History 2

2. Awards 3

3. Organisational Structure 4

4. Vision, Mission and Policy 5-6

5. Corporate Social Responsibility 7-9

6. Product Mix 10

7. Customer Profile and Pricing 11

8. Store Location 11

9. Competitive Analysis 12-16

10. Expansion Plans 17-18

11. References 19

Page 2: fashion retail and mall manaement

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CORPORATE HISTORY

Lifestyle International (P) Ltd. started it operations in India in the year 1999. It is a part of the

Dubai based retail and hospitality conglomerate Landmark Group and comprises Lifestyle

stores (Large format Departmental stores), Home Centre (Home Improvement stores) and

Max (Value fashion chain) along with International fashion apparel brands UCLA and Bossini.

Lifestyle Departmental stores started its journey in India with the launch of its first Lifestyle store

in Chennai in 1999. Today it has evolved as India's leading shopping destination synonymous

with fashion and gracious living. Each Lifestyle store brings together five concepts under one

roof – Apparel, Footwear, Children, Homeware & Furnishing and Beauty & accessories,

offering a convenient one-stop shop for customers. Present across major metros in India,

Lifestyle is rapidly expanding its footprint across the country.

In the year 2005, Lifestyle launched its first specialized, stand-alone home improvement store

– Home Centre. Home Centre is a one stop destination for furniture, homeware and soft

furnishing that truly represents style, comfort and individuality. The stores use unique 'concept'

rooms as the display model, to give consumers a practical idea of how each piece of

furniture would look in a particular room.

Max, a division of Lifestyle International (P) Ltd., has pioneered the concept of 'value fashion

retailing' in the country, thereby offering the value conscious customer a vast choice without

compromising on the quality. It opened its 1st store in Indore in the year 2006. Max offers

merchandise which is fashionable & competitively priced making it affordable to many.

In keeping with the tradition of making every shopping experience even more rewarding

and memorable, Lifestyle introduced membership to the most privileged shopping circle in

the country – The Inner Circle. As a privileged member, every shopper gets to enjoy exclusive

benefits and privileges such as reward points and exciting offers. The Inner Circle is today

recognized amongst the leading Loyalty Program in the country with an ever increasing base

of customers. The card is accepted across all Landmark Group Stores in India including

Lifestyle, Home Centre, Max Fashion, Splash, Bossini, Auchaan Hypermarket, Krispy Kreme

Doughnuts & Gloria Jean's Coffees.

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AWARDS

Lifestyle International Pvt Ltd today offers a truly international shopping experience, a fact

borne by numerous accolades:

Lifestyle Receives Most Admired Fashion Retail Destination Of The Year At The Images Fashion

Awards For Three Consecutive Years 2013, 2012 & 2011

Lifestyle Awarded Most Admired Retailer Of The Year, Department Store Category At The

Images Retail Awards 2012, 2011 & 2008

Lifestyle International Pvt. Ltd. Recognized As 42nd Best Workplace In The Country And 2nd

Best Company To Work For In The Retail Sector In India By Great Place To Work Institute Survey

2013

Lifestyle International Pvt. Ltd. Recognized For 'Best HR Strategy In Line With Business' At 4th

Asia's Best Employer Brand Awards 2013

Images Most Admired Beauty Products Retailer Of The Year: Department Store Chain At

Images Beauty & Wellness Awards 2013

Retail Supply Chain Excellence Award – Express Logistics & Supply Chain Conclave & Awards

2012

Lycra Images Fashion Awards For The 'Most Admired Large Format Retailer Of The Year' In

2006 For Lifestyle

'ICICI – KSA Technopak Award For Retail Excellence' In 2005 For Lifestyle

'Most Respected Company In The Retail Sector' By Business World – IMRB In 2003 And 2004 For

Lifestyle

17/10/2012 Lifestyle Wins 'IMAGES Most Admired Retailer Of The Year: Department Store' For

Second Year In A Row

Page 4: fashion retail and mall manaement

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ORGANISATIONAL STRUCTURE

BUSINESS MANAGER

STORE MANAGER

ASSISTANT STORE

MANAGER

HR DEPARTMENT

FINANCE DEPARTMENT

MARKETING

DEPARTMENT

CONCEPT MANAGER

MERCHANDISE CONTROLLER SUPERVISOR Jr. SUPERVISOR

Sr. CUSTOMER SALES

REPRESENTATIVE

CUSTOMER SALES REPRESENTATIVE

VICE PRESIDENT

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LAND MARK - PARENT COMPNAY

VISION:

Growing customer by customer, concept by concept and country by country. The world will

call it success. We call it a sound foundation, for bigger things to come.

MISSION:

To become the foremost retailer in the Middle East, by providing its customers with a large

variety of high quality at exceptional value under one roof.

PRODUCT POLICY:

Creating an environment where every member of the organization strives towards

excellence in retailing to offer complete customer satisfaction.

QUALITY POLICY:

Providing consistent quality in all our products and services by adopting the highest

standard of quality.

Providing and unparalleled shopping experience

Creating an environment where every member of the organization strives towards

excellence in retailing to offer complete customer satisfaction.

GROUP PHILOSOPHY:

Complete customer satisfaction

To aspire to be the no:1 in each field of operation

International standards

Research and development

Manpower development and training

Total quality approach

Cost control

Speed and simplicity

Transparent

Page 6: fashion retail and mall manaement

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INSTORE POLICY

ALTERATIONS POLICY

Usually length, waist, sleeves and side seams are altered. Sleeves are also attached

to sleeveless kurtas.

Four tailors are employed.

Usually time taken is 1 hour but during off sale 24 hours are taken.

A book is maintained for records of alterations

White slip from the book is given to the customer, pink is given to the tailor and yellow

is kept for reference. If the customer loses his white slip, another declaration for lost

delivery slip is given to him.

The altered merchandise can be collected from the delivery counter.

EXCHANGE POLICY

Exchange is usually required for – sizes, gifts, colour bleeding.

If there is manufacturing defect fund and there are no more pieces of the same

merchandise present then cash is refunded to the customer, it also includes the case

of extreme cases then also cash refund takes place.

Exchange is allowed within 15 days of purchase, provided – items to be exchanged

are intact, unused and good condition along with original lifestyle barcode.

Original invoice is produced as a proof of purchase

Validity of credit note will be for six months from the date of issue.

TRIAL ROOM POLICY

Take a token from the security personnel.

Please take not more than five garments at a time.

Check your belongings before leaving the trial room.

Please avoid any stains on the garment.

Management is not responsible for any loss.

Page 7: fashion retail and mall manaement

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CORPORATE SOCIAL RESPONSIBILITY

The Landmark Group firmly believes that, a business entity is responsible for the wellbeing of

the community and society it operates in. By playing an active role in making positive

changes, the Group chooses to pay back to the society.

Our commitment as a Group to Corporate Social Responsibility (CSR) is not merely about

charity and the likes, but playing a more responsible part in the society, be it within the

organization, towards our stakeholders, environment or society.

HEALTH INITIATIVES

Beat Diabetes

Diabetes is fast proving to be the one of biggest ailments around the world.

Over 382 million people worldwide are living with Diabetes

The number of people living with diabetes is predicted to reach 592 million by 2035

Sedentary lifestyle, unhealthy eating habits, lack of exercise, are some of the reasons,

why the incidence of diabetes is extremely high in the Middle East & India

Keeping in mind the seriousness of the issue, Landmark Group adopted Diabetes as part of its

CSR initiative. Through the 'Beat Diabetes' initiative, the Group aims create awareness &

educate people about the condition.

The initiative was launched in 2009 in UAE and currently extends across Kuwait, Oman, Qatar,

Bahrain, Saudi Arabia and India. Every year in the month of November walkathons are

organized across the 7 countries and in 2013, over 60,000 people participated in these walks.

The Group also conducts free blood glucose testing and last year over 80,000 benefited from

these camps.

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ENVIRONMANTAL INITIATIVES

Responsibility towards the environment

The Group realizes that the environment is very important and in urgent need of attention. In

an effort to do its bit, Landmark Group has adopted various eco-friendly initiatives at its stores

and offices, to face the growing challenges to protect the environment in the retail industry.

Some of its notable contributions include:

Adoption of eco-friendly recycled paper for stationery requirements

Implementation of stringent health and safety measures across all warehouse facilities

Use of non-polluting equipments and proper maintenance of assets at the supply

chain

Effective waste collection drive

Ongoing recycling initiatives

The Groups central logistics and re-distribution centre has reduced its water and

electricity consumption by 5% and took steps to earn the ISO 14001 for the

environment

The Landmark Group has also embarked on an exercise to measure the carbon

footprint of all its 5 facilities at the Jebel Ali Free Zone, Dubai

Community Initiatives

Responsibility towards the community

As a responsible social citizen, the Group seeks to actively support initiatives of noteworthy

organizations within the community.

Constantly exploring new means to contribute to the society, the Landmark Group has tied

up with various organizations through its wide retail network, to make a difference to the

society.

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Some notable community initiatives, which the Group participated in;

Building an auditorium for Rashid Paediatric Therapy Centre

Green Abu Dhabi project

Ongoing initiatives:

Promoting local talent through Art Olympiad held in Kuwait

Participation in Dubai Cares - School Feeding Campaign

Funding education for deserving children at the Al Ihsan Charity

Spreading awareness for the safety of our future generation through Babyshop's,

Child Safety First Campaign

Blood Donation Campaign with Dubai Health Authority for Thalassemia patients

LIFE

Landmark International Foundation for Empowerment

LIFE Trust, founded in 2000, is an NGO that works in collaboration with the Government to

introduce various programs at the school and pre-school level in order to improve the quality

and accountability of the education system for the underprivileged children. It believes that

every child should have the right to explore his talents and chase his dreams, and he can

only do so if he is provided a platform for growth.

The Vision for LIFE is: "Empowerment of the underprivileged through creative education"

Since its inception, LIFE Trust has been able to affect the lives of over 50,000 children annually

in Mumbai, Chennai and Bangalore in India.

LIFE's mission of 'education' translates into the following programs:

Skills Development & Women Empowerment

School Development program

Integrated Child Development Scheme (ICDS)

LIFE Centre for Learning Disabilities

Vocational Training

Training centre for Youth-Career skills for under-privileged youth

Turnover, market share, number of employees, financial status

Page 10: fashion retail and mall manaement

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PRODUCT MIX

Concepts at Lifestyle:

Splash, Lifestyle, Baby shop, Shoe mart and home centre function as separate stores abroad

but in India lifestyle offers the customers all the concepts within one store to make shopping

a complete experience.

Brief on concepts:

BABY SHOP –

This concept caters to the needs of the growing years. It has apparels, toys, nursery products,

school and stationary products and accessories for children. Most of the products for infants

and nursery are imported. This concept is the first baby of Lifestyle. It is the favourite concept

of children as it offers them the newest and a very large collection of apparels, toys, school

stationary.

SHOE MART –

This concept caters to the footwear needs of men, ladies and children. It provides the

customers with all the new styles in footwear. It also offers many foot care products, hosiery,

luggage and ladies hand bags. The brands offered here are the most trusted and liked by

the customers of Lifestyle. It offers formal, casual, sports and ethnic shoes. It offers a wide

range in all the categories.

SPLASH –

This concept offers apparels and accessories for men and women. It offers the most new

styles of the season, carefully selected by the buying team. The brands found here are a big

name by themselves and the in house brands offer the best quality and the most stylish and

trendy collections. Anything that is seen on the Indian fashion scene internationally can be

found here. Formals, casuals, denims, ethnic, accessories and innerwear can be found here.

HOME CENTER –

This concept caters to all the merchandise required to make a house – A home. A varied

collection of soft furnishings, glassware, kitchen utensils, furniture, plastics and bath, garden

and gift products, is offered. Most of the products here are imported, thus giving different

options to customers from what the competitors give. This pulls the customers back to the

concept over and again.

LIFESTYLE –

This concept offers all the lifestyle defining products. It has fine jewellery, watches, health and

beauty products, cosmetics, perfumes and fashion accessories. It has the most vibrant and

trendy collection of watches and fashion accessories which are a favourite of all the

customers at Lifestyle. All the new launches of the cosmetics brands can be found here. The

brands that we find here are nationally and internationally recognized, trusted and

appreciated names.

Page 11: fashion retail and mall manaement

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CUSTOMER PROFILE

Lifestyle Caters to the premium and elite customers that fall in the higher income group

levels. The core customers of lifestyle do not mind spending provided that they get quality

and exclusivity of product and service in return.

PRICING

The pricing for lifestyle is premium because of the high quality merchandise and services

offered by the store since the operational cost of the store are high premium pricing is

essential to maintain the margin.

STORE LOCATIONS IN INDIA

As of now there are 53 number of store all over India which include tier 1, tire 2 majorly and

few tier 3 cities as well.

CITIES

TOTAL NUMBER OF STORES

Ahmedabad, Amritsar, Bhopal, Chandigard,

Coimbatore, Dehradun, Gaziyabad, Jaipur,

Jalandar, Jammu, Kanpur, Kolkata,

Ludhiana, Manglore, Mohali, Nagpur, Nodia,

Surat, Vijyawada

ONE

Gurgaon TWO

Pune THREE

Hyderabad FOUR

Chennai FIVE

Mumbai SIX

Banglore TEN

The total retail space of 2.5 million sq ft.

Page 12: fashion retail and mall manaement

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COMPETITIVE ANALYSIS

[IN TERMS OF POSITIONING, PRICE, PRODUCT, PROMOTIONS AND PEOPLE]

COMPARITIVE ANALYSIS OF THE SHOPPERS’ STOP, WESTSIDE AND LIFESTYLE

ON THE BASIS OF THE PRODUCT

MEN’S WEAR -

Private label in Shoppers’ Stop and Lifestyle does not exist for categories like -

- Suits and Coats

- Jackets

- Track pants

- Shorts

- Denim Shirts

- Ethnic Wear (Lifestyle had both but price point was not distinct)

- Innerwear like Vests, Underwear, Belts, etc.

Style options available in Formal Trousers in Shoppers’ Stop, Lifestyle and Westside are almost

equal Value Pack of 3 T-Shirts in a set in Different colours was being promoted in both

Shoppers’ Stop and Lifestyle whereas it was not present in Westside. Innerwear was mostly

available in sets. More of singles counts are used for sport/casual wear shirts across all the

brands. After cotton/ cotton mix (60%) Polynosic (21%) trousers were predominantly present

in Shoppers’ Stop and Lifestyle.

- Fast moving size:

40” and 42” (shirt) both account 66%, 32” and 34” (Trouser) both account 62%.

- Least moving size:

46” and 44” (shirt) both account 9% only, 38” & 40” in trouser 4%.

WOMEN’S WEAR -

Presence of only Private Label in Lifestyle and Shoppers’ Stop in Categories:

- Formal Skirts

- Casual Skirts

Presence of only National Brands in Shoppers’ Stop and Lifestyle in Categories:

- Cargoes

- Track-Pants

- Shorts

- Denim Skirts

Category SKD in Lifestyle and Westside had almost similar style options. Ikat, khadi, Mangalgiri

are popular among kurti’s and SKDs.

Style options available in Lifestyle and Shoppers’ Stop are almost Same in categories:

- Formal Shirts

- T-Shirts and Tops

- Denim Skirts

- Cargoes

- Shorts

- Denims

- Belts

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- Slips and Spaghettis

Style options available in Lifestyle is more than that of Shoppers’ stop for Categories:

- Scarf’s

- Kurta’s

KID’S WEAR - There is a dominance of the blue and pink colors. Party wear frocks present

were constructed by material poly-cotton, poly-viscose and other synthetic blends. Wider

options are available for smaller sizes (smaller age group).

FOOTWEAR’S WEAR - Lifestyle has got a very strong merchandise mix as compared to its

competitors. Hawai Chappals and Kolhapuri shoes are only present in Lifestyle. It has got

more than double collection of Women’s slippers than that of Shoppers’ Stop. It has got

more than the four times the collection of Women’s casual shoes than that of Shoppers’

Stop. Westside has very limited style options especially for Men’s Category.

ON THE BASIS OF PRICE

Price-points of lifestyle and Shoppers’ Stop is almost head-on-head; except Men’s Jacket,

Women’s slippers, Women’s Sports Shoes. The price point of Westside is prominently low as it

comprises only of Private Labels.

MEN’S WEAR - Maximum options were present in the price-point 1199 for both Shoppers Stop

and Lifestyle in Formal Shirts while in Westside it was in price-point 699. Highest price-point for

Suits and Jackets was present at Shoppers Stop at 16499.

WOMEN’S WEAR - No distinct price-points for private label and National Brands in Shoppers

Stop as well as Lifestyle for:

- Formal shirts

- Jackets

- Ethnic Wear

- Scarf

It was observed that there was a vast difference in price-points of private labels and that of

National Brands in Shoppers Stop and Lifestyle for Suits and Coats.

- Kurtas with Yolks (priced at 549) were present in Lifestyle and not in Shoppers’ Stop and

Westside. - Kurtas with belt (priced at 399) were present in Westside and not in Shoppers Stop

and Lifestyle

- Kurtas with pin tucks (priced at 599) were present in Westside and not in Shoppers Stop and

Lifestyle.

- Empires waistlines (priced at 499) were present in Shoppers’ Stop and not in Lifestyle and

Westside

KID’S WEAR - Maximum options were present in the price-point 399 for both Shoppers Stop

and Lifestyle in tops while in Westside it was in price-point 299. Maximum options were

present in the price-point 699 for both Shoppers Stop and Lifestyle in bottoms while in

Westside it was in price-point 299. Basic products of Lifestyle and Shoppers Stop start at

higher price points than those of Westside.

Page 14: fashion retail and mall manaement

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FOOTWEAR’S WEAR - Lifestyle has got maximum option available at price point 799 for

Women’s Slippers. Lifestyle has got maximum option available at price point 1399 for

Women’s Casual Shoes. Gaps exist in Price point of Kid’s Footwear in Lifestyle – like Girl’s

shoes are available for 1500 and 1000 and there is no price point between them.

ON THE BASIS OF PROMOTION

ON THE BASIS OF PEOPLE

SHOPPERS’ STOP

LIFESTYLE

WESTSIDE

CSA Intensity

Per 2 brand 3 CSAs

Per brand 1 CSA

Per segment 3-4

CSAs

CSA Capability

Strong knowledge

base

Proper training for 3

months at the time

of joining

Good PR and

communication skills

No direct

recruitment for

senior CSAs. Juniors

are promoted as

seniors based on

their performance

Strong knowledge

base

Proper training for 6

months at the time of

joining

Good PR and

communication skills

Recruitment as per

their qualification and

experience.

Qualification

graduates as seniors

CSAs and 10+2 as

junior CSAs

Basic knowledge

of particular

segment

Proper training for

6 months at the

time of joining

Good PR and

communication

skills

Remuneration

12th pass – 4000 (gross)

Senior CSA – 6000-8000

Gross salary-6200/-

COMPARISION OF PROMOTION

ELEMENTS

Page 15: fashion retail and mall manaement

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structure and

incentives

schemes

Graduates – 6000-8000

(gross)

Incentives on the basis of

sale.

(gross)

Juniors CSA -4000-8000

(gross)

Incentives on the basis of

sale.

In hand – 5664/-

Incentives on the

basis of sale.

ON THE BASIS OF POSITIONING

SHOPPERS’ STOP

LIFESTYLE

WESTSIDE

When they started ?

1991 in Mumbai

1999 in Chennai

1998 in Bangalore

How they started ?

The Raheja’s had a

property which they

wanted to make

commercially viable.

Lifestyle is a part of

the Landmark Group,

a Dubai based retail

chain which made its

way in India thrugh

fashion retailing.

Lakme took over

Littlewoods of UK

store (opened in

Banglore), which is

now known as

Westside owned by

Trent.

Taglines

First campaign

idea emerged :

“Shoppers’ Stop:

The Ultimate

Your Store. Your

Style

Started with

“Surprisingly

Affordable Price”

New idea “Keep

COMPARISION OF

POSITIONING ELEMENTS

Page 16: fashion retail and mall manaement

16

Shopping

Experience”

Second idea

“Feel the

Expercience

while you shop”

Next, Shoppers’

Stop adopted

the platform as

“Shopping and

Beyond”

New idea “Start

Something New”

your style alive”

Trial Rooms

More in number

Mirrors on 2 sides;

size of mirroes

smaller

Mirrors not

aligned from

edge to edge

due to which the

size seems

smaller although

it is bigger than

that of lifestyle.

More than that of

Westside but

lesser than that of

Shoppers’ Stop

Mirrors on three

sides aligned

from edge to

egde which

makes it looks

spacious.

Least in number,

only 4 on each

floor

Biggest in size

but mirror on

one side only.

Present Positioning

Currently

operating 24

stores

Currently

operating 13

stores

Currently

operating 29

stores

Page 17: fashion retail and mall manaement

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EXPANSION PLANS

According to an article – “Lifestyle International reports strong increase in sales”

Stable prices, market share gains, improved product mix drive a recovery in demand

By: Mihir Dalal

First Published: Mon, Sep 02 2013. 12 03 AM IST

Ref: http://www.livemint.com/Industry/Pg1QzUDRKuBgYDAKpekISI/Lifestyle-International-reports-

strong-increase-in-sales.html?utm_source=copy

Lifestyle International Pvt. Ltd , which owns the eponymous department stores, apparel

retailer Max and home furnishings and furniture seller Home Centre , is reporting a strong

increase in sales as stable prices, market share gains and an improved product mix drive a

recovery in demand. So far this year, Lifestyle has reported a strong double-digit increase in

same-store sales, or sales at stores that are open for at least a year, across all its chains,

managing director Kabir Lumba said in an interview. Same-store sales had dropped to single

digits last year due to increased prices. “Our growth last year was below our expectations

because some new stores did not open as malls got delayed. But demand’s been very good

this year. Product mix has improved a lot—better presentation, better aesthetics and sharper

pricing. We’ve introduced newer price points across price levels,” Lumba said. After a slump

in growth last year, retailers including Shoppers Stop Ltd and Rs. Future Retail Ltd have

reported strong sales so far this year, mainly because of stable prices and strong demand

during the traditional discount sale period. However, growth will surely moderate for Lifestyle

and others from now on given the persistent weakness in the economy as well as the slump in

the rupee, which would force retailers to increase product prices by 5-7%, Lumba warned.

Overall, Lifestyle, one of India’s largest retailers, expects sales to grow 25-30% for the year to

March from Rs.3,000 crore last year. “Same-store sales growth will also reduce; from high

double digit, it will come down to low double digit,” Lumba said. The Landmark Group-

owned company plans to open 20 Max stores, 6-7 Lifestyle stores and 1-2 Home Centre stores

this year. In future, a majority of the new stores will be for its Max brand. Max, which

competes with Westside and Reliance Trends, is one of the few brands in the so-called value

fashion space in India where many apparel shoppers, especially women, prefer lower priced

but attractive looking products. “It is surprising that more players aren’t competing in this

space. In India, supply pyramid is opposite of demand period. My analogy is that everyone is

trying to sell high-end French pastries for breakfast but no one wants to sell aloo parathas,”

Lumba said. He forecasts that within six years, Max, which is expected to report sales of

Rs.1,100 crore this year, will be a bigger brand than Lifestyle. The company overall has set a

target of generating sales of Rs.5,500 crore within five years from Rs.3,000 crore currently,

Lumba said. Abneesh Roy, analyst at Edelweiss Securities said, “Most retailers have done well

this year and 25-30% growth is achievable especially if you consider the same store sales

numbers.” He added, “Lifestyle because it is unlisted also has the advantage of being able

to expand without being under pressure to deliver profits every quarter.” Apart from Lifestyle

and Max, Home Centre is the company’s other significant contributor to business. During an

economic slowdown furniture and home furnishings tend to take a bigger hit than many

other products because they are significantly more expensive. However, Lumba said Lifestyle

is increasing the size of its Home Centre stores to roughly 25,000-35,000 square feet from

15,000-25,000 square feet earlier. “In furniture, a lot of players have slowed down. So while

there’s pressure (on the demand side), there are constraints on the supply side as well. So

we’ve gained a lot of market share and that’s where most of the growth in Home Centre is

coming from,” he said. “During the non-sale season it’s very difficult for companies like

Shoppers Stop and Lifestyle to get footfalls because they don’t offer great value. Max serves

that need gap through the year,” Edelweiss’ Roy said. Traditional retailers such as Lifestyle are

Page 18: fashion retail and mall manaement

18

facing growing competition from online retailers such as Myntra.com and Flipkart.com,

which offer large discounts through the year and are improving their merchandise and

reducing order delivery time. “Online is here to stay. Youngsters are buying a lot online. It’s

not like we’re going to stay out of it forever. But currently a lot of online players are burning

cash. I think by 2015-2016 a lot of companies will enter (online) because by then there’ll be a

critical mass of people who’ll be shopping online,” Lumba said.

As Lifestyle store’s parent company Landmark Group is a private ltd. Therefore the annual

financial report has not been disclosed for the public. Due to the above reason the following

information are unavailable –

1. Number of employees

2. Annual turnover

3. Profit percentage

4. Market share

Page 19: fashion retail and mall manaement

19

REFERNECES

http://www.landmarkgroup.com/social-responsibility/

http://www.lifestylestores.com/

http://www.shoppersstop.com/

https://www.mywestside.com/Home.aspx

http://www.livemint.com/Industry/Pg1QzUDRKuBgYDAKpekISI/Lifestyle-International-reports-

strong-increase-in-sales.html?utm_source=copy