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Lifestyle expects business to normalize next fiscal

  

Lifestyle, part of Dubai-based retail and hospitality conglomerate Landmark Group, expects its business to come back to normal in the next fiscal, hoping to return to its normal rhythm of opening seven-eight stores per year once many of the new malls start getting operational in India.

The company currently has over 75 stores in the country. This year it has launched three stores in Mangalore, Lucknow and Guwahati — which is its first store in the northeast.

Rishi Vasudev, CEO, Lifestyle & Home Centre, said the stores are recording a sharp decline in footfall compared to the last year due to coronavirus scare, but online sales are witnessing strong traction. Customers coming in are serious shoppers with high intent. This is leading to 55-6 per cent business. The brand expects festive season footfalls to increase to 65-70 per cent leading to 80-85 per cent of last year’s business.

The company is making its collections accessible through options like Lifestyle Style Express & Lifestyle Pujo Express, which is a mobile fashion store that makes the collection accessible to customers at their doorstep.

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