Economic times-

23-08-2009 –Retail business

Landmark plans Rs. 200 – cr boost for Indian operations

Dubai – based landmark group is looking to invest about rs. 200 crores to
expand its footprints in India. The $3.2 billion group currently operates 60 – odd stores in India
and is looking to open another 20-25 stores in the next twelve months. The focus will be on the
group’s departmental store, home décor and value apparel brands – lifestyle, home centre and
max.
The group will have a total of 23 lifestyle stores, 11 home centers, 30 max stores and 7 splash
(high street fashion) stores across the country in a year besides its other stores too. It currently
operates 15 life style stores, 9 home centers, 19 max stores and 3 splash stores.
In India, landmark is looking to increase its footprints in tier I and tier II cities as it is
targeting the middle and upper middle class segments of the Indian population. Despite the
relatively high cost structure in India, compared to Middle East where the group has a large
presence, the group is committed to its expansion plans here.
The group founded by Mickey jagtiani, has expanded from one children’s store in Bahrain in
1973 to about 750 stores across 9 countries. Kingdom of Saudi Arabia is the largest market for
the group and it is looking forward to enter Egypt and turkey this year.
The group recorded better than expected revenues for 2008-2009 and managed to grow
despite the slowdown.

Other business news –

1. Fortis set to buy 10 hospitals of wockhardt.