Retail chain, LifeStyle International, is on a mega expansion spree. The company is looking at setting up 13 new stores by the year 2006, over an area of 6.85 lakh sq.ft.
While the retail chain's existing store in Chennai is going to relocate to the upcoming Chennai City Centre, where it has leased 75,000 sq.ft. space, the company is planning to set up two more stores in Mumbai and Delhi and is also planning to open up stores in Pune, Ahmedabad, Kochi and Kolkata.
Mr Kumar S., Managing Director, LifeStyle International Ltd, told Business Line that the company is planning to invest an additional Rs 120 crore in the Indian market over the next three years. "We hope to touch a turnover of Rs 442 crore by 2005-2006," he said.
The company's turnover last year was Rs 135 crore and it is expecting to touch Rs 310 crore in 2004-2005. Apart from setting up new stores, the company is also planning to spruce up its customer loyalty programme and add to its existing range of in-store brands, especially in the apparel segment.
The company is shortly going to launch a quarterly magazine for its Inner Circle (loyalty programme) members, which will not only talk about the various offering within the store, but would also contain food reviews, travel pieces and other lifestyle-related write-ups.
Mr Kumar also said that the company would enhance its value offerings to its loyalty programme members. "We are looking at offering holiday packages and executive health check-ups and other lifestyle-related options to our Inner Circle members. Our vision is to position ourselves as a lifestyle enhancer," he said.
After doing a series of print ad campaigns, the company is also planning to launch a TV campaign in the next one year.
Talking about the company's advertising and branding strategy, Mr U. Jayraj Rau, Vice-President & Client Services Director, J. Walter Thompson, which is the marketing and brand consultant of LifeStyle, said, "We are trying to promote LifeStyle as a way of life, as an aspirational and contemporary brand. Instead of promoting the store's merchandise, we are trying to make people believe that it is the right kind of brand to be in touch with."