Monday 4 January 2016

Landmark Group launches e-commerce website in India

BENGALURU: Landmark Group, Dubai-based retail conglomerate, which owns Lifestyle and Max chains, has launched its India-specific e-commerce website 

"With this we look forward to expanding the market of these brands (Lifestyle and Max) by making them accessible to customers across the country, including the cities where these brands have yet not established a physical presence", said Kabir Lumba, managing director of Lifestyle International Private Limited. 

Lifestyle is a Rs 5,000 crore retail apparel brand which is expected to become a Rs 8,500 crore company in the next three years. Max, on the other hand, is a Rs 1,800 crore and growing at the rate of 38% CAGR every year. 

This move is also expected to help the brand's omni-channel strategy in India, wherein a customer can shop online from offline stores and get the product delivered according to his preference and more. 

As per the company officials, LandmarkShops in UAE grew by 208% year on year in their second year and has already crossed 100% in the first half of the third year. "The Indian E-commerce market is both massive and hyper-competitive. We plan on growing rapidly, achieving profitability as soon as possible," said Savitar Jagtiani, Business Head - Ecommerce, 

According to a PwC report, by 2020, online retail in 
India is expected to account for 3% of total retail. Further, orders per million are expected to more than double from five million in 2013 to 12 million by 2016.

No comments:

Post a Comment