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LMG navigates more brands

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Landmark Group, which retails foreign brands like Kappa, Springfield and Bossini in India, is learnt to be in the process of bringing more international labels. It recently introduced the global brand Josef Seibel, and is eyeing more brands for India operations. The company will launch a new foreign women’s footwear brand by this fiscal.

“We have very good plans for India. We will soon take Josef Seibel to top 10 cities across the country,” Fazle Naqvi, executive director, LMG Brands India Ltd, told The company plans to open 25 standalone Josef Seibel stores in tier I and II cities within the next one year. Priced in the range of Rs 2,500-3,000, the high-end formal shoes for women is currently retailed through Lifestyle and Central stores in Bangalore.

“We will soon bring another global footwear brand for women,” Naqvi added. However, he refused to comment on further details. Naqvi also denied to comment on Landmark’s race to acquire UK-based New Look brand.

The company plans to roll out 10 Springfield exclusive stores across the country by this fiscal. The company will soon open its first Springfield store in Bangalore. “We are planning to open two stores in Bangalore in the next three months,” Naqvi informed. Besides, 20 Lifestyle stores are expected to be operational by the end of this fiscal.

The company is also eyeing to foray into other fashion and lifestyle segments. “We are seriously looking at the business prospects of other lifestyle segments as well. Our Lifestyle stores will soon retail lifestyle accessories like mobile phones and other electronic gadgets,” Naqvi added.

Asked about the growth rate of the company, a company spokesperson said: “The retail market will see double-digit growth and our turnover is expected to grow on these lines.”

– Bangalore Bureau

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