The retail megawatt Lifestyle has set its sights on expanding its retail presence to small towns in India within the next few years. Encouraged by the positive response received in cities like Raipur and Guntur, the company will open over 50 stores over next couple of years, with more 20 slated for this financial year itself. Along with a new avatar, the new stores will be smaller in size compared to their metro counterparts and will offer clothing, footwear, and beauty products at affordable prices.
Lifestyle, a popular brand in the metro cities of India, is planning to expand its retail outlets to small towns in the next three to four years. Riding on the positive reception of their stories in cities such as Raipur and Guntur, the company strongly believes in the untapped opportunities present in these smaller cities.
Lifestyle belongs to the Dubai based retail and hospitality conglomerate Landmark Group. It sells its own brand along with third party brands. Its in-house brands include Home Centre, Max, Easy Buy and Lifestyle. It’s women’s’ ethic wear is particularly popular amongst locals. The company exercising majority control over promotions and pricing thereby allowing them to directly benefit from reading the market accurately.
Lifestyle entered the Indian market two decades ago and currently has over 100 stories across the country. It plans include opening more than 50 stores in next couple of years, with about 20 scheduled for the current financial year. With their new retail outlets, the company intends to push products such as clothing, footwear, beauty products and accessories in small towns, catering to the customers’ needs there.
Consumers in smaller towns and cities appear to be moving towards big, well-established brands to avail the latest fashion trends. By entering such markets, Lifestyle will offer customers in these towns access to fashionable branded clothing items at fairly reasonable prices. These new stories will have an all-new avatar as well.
The company is also working on improving the existing stores and increasing productivity while working with its label which gives them more control on the product and launching new products that attract customers from all walks of life. The ultimate goal is to increase the footfall in all the stores. The stores in big cities are in the range of 40,000 to 45,000 sq ft which will now be in the range of 25,000 to 30,000 sq ft in the smaller cities.
In conclusion, Lifestyle's decision to expand its retail outlets to small towns in India is a strategic move to tap into the untapped opportunities in these markets. By offering customers access to fashionable branded clothing items at reasonable prices, the company hopes to increase footfall in all its stores. With a focus on improving existing stores and launching new products that cater to customers from all walks of life, Lifestyle is poised to bring the latest fashion trends to all.
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