Lifestyle plans to open 20 new outlets

Fashion retailer Lifestyle plans to ramp up its offline presence in the country with overall investment of Rs 200 crore. The company plans to add 20 new outlets over next one and half years.

Lifestyle is mulling 16-18 per cent growth and a turnover of Rs 4,600 crore this fiscal. The company had reported Rs 4,000 crore turnover in the previous financial year.

The company, which at present operates close to 75 outlets in the country, plans to open majority of the new outlets in the cities where it already has a presence.

"We plan to invest Rs 150-200 crore to open 20 new outlets in the next 1-1.5 years. At present we have stores in 44 cities...we will go into five more cities and open rest of new planned the stores in the cities where we already have a presence," Vasanth Kumar, Managing Director, Lifestyle International, as told to PTI.

( Source: PTI)