Landmark Group, the USD 2.5 billion retail conglomerate in the Middle East and India, has launched its first Splash store in Bengaluru. Spread over an area of 8000 square feet, the boutique store is located at MG Road.
Speaking on the occasion, Raza Beig, CEO, Splash, said “With purse strings tightening and shopping being low on the consideration set of consumers, Splash aims to keep consumer sentiments buoyant by introducing international high street fashion at affordable prices. Bangalore is home to fashion forward youth and we are excited about launching our brand in such a vibrant city. We are confident that Splash will prove to be a success story here.”
According to a company press release, the new store houses denim, sports, casuals, formals, evening and club, intimates and accessories. Further, Splash also retails international brands like Ms, Nexus, Retro, ZYNC, Jaded, Friday-Kinyobi and Bossini.
Talking about Splash’s expansion plans in India, Beig added “Our initial plans included opening 15 stores in the first three years of operations in India. We are expecting to invest a total of Rs 4 to 5 crores (Rs 40-50 million) per store making the total investment Rs 75 crores (Rs 750 million) while we are targeting a total turnover of 200 to 235 crores (Rs 2-2.35 billion). However keeping the current economic conditions in mind we have decided on a strategic change for the brand that involves launching smaller boutique formats within the Lifestyle stores. This will help us ride on Lifestyle’s presence across several key locations and their strength of loyal customers.
Talking about Lifestyle’s alliance with Splash, Kabir Lumba, executive director, Lifestyle International commented, “We, at Lifestyle, are happy to be a part of Splash’s expansion plans in India. We look forward to work in alliance with the brand, wherein we will be introducing Splash boutique stores in select Lifestyle stores across the country.”
Headquartered in Dubai, UAE’s cosmopolitan hub Splash opened its first store in 1993. The brand currently has a retail footprint covering over 1.3 million square feet of retail space world over, that maps nine countries with 80 Splash stores and 66 branded boutiques. By the year 2012, Splash plans to expand its footprint to 125 stores across at least 5 more countries, said the release.
— IndiaRetailing Bureau