Lifestyle Stores Full Retail
Lifestyle Stores Full Retail
Lifestyle Stores Full Retail
Deepti Arora Manu Mathur Ankit Mehta Anuja Pathak Keerthana Arcot Smriti Sudish Shalaka Tiwari
KEY FACTS
Lifestyle International (P) Ltd, part of Dubai based Landmark Group Micky Jagtiani, Chairman & CEO Department Store Chain Over 150 brands Positioning: Youthful, Vibrant & Stylish Brand Started in 1999, Chennai Presence in 23 cities No. Of stores: 35 stores Retail Space: 2.5 million square foot Revenue: 30.10 billion (US$460 million) , March 2012 Net Income: 9.50 billion (US$150 million) , March 2012 Total Assets: 24.75 billion (US$380 million) , March 2012 Employees19,000, March 2012
Lifestyle International Pvt Ltd recognized amongst India's Best Companies To Work For (42nd position) by The Economic Times and The Great Place To Work Institute 2013
Lifestyle receives Most Admired Fashion Retail Destination of the Year at the Images Fashion Awards for two consecutive
years 2011 & 2012
Lifestyle awarded Most Admired Retailer of the Year, Department Store Category at the Images Retail Awards 2012, 2011 & 2008
Images Most Admired Beauty Products Retailer of the Year: Department Store Chain at Images Beauty & Wellness Awards 2013
Retail Supply Chain Excellence Award Express Logistics & Supply Chain Conclave & Awards 2012 Home Centre awarded Most Admired Retailer of the Year, Home and Interiors Category at the Images Retail Awards 2009 & 2010
Reid and Taylor Retailer of the Year award for the year 2006 for Lifestyle. Lycra Images Fashion Awards for the Most Admired Large Format Retailer of the Year in 2006 for Lifestyle ICICI KSA Technopak Award for Retail Excellence in 2005 for Lifestyle
Most Respected Company in the Retail Sector by Business World IMRB in 2003 and 2004 for Lifestyle
DEPARTMENTS
Clothing Footwear, Handbags & Travel
Children
Apparel Toys
Girl s Boy s
Women
Ethnic & Fusion Lingerie Western
Men
Formal Casual Denim Sports Innerwea r Ethnic
Children
Men
Women
Children
Handbags
Beauty
Watches
Sunglasses
Jewelllery
Home Center
Soft Furnishing
Bed Linens Curtains Cushions Bath & Laundry
Accessories
Crockery & Cutlery Kitchenware
Furniture
Living Bedroom Dining Wood & Fabric
Home ware
Lamp Gifts & Interiors
Modular Kitchens
PRIVATE LABEL
MELANGE : Its an ethnic wear brand for new age Indian men and women. CODE: Formal and casual wear. GINGER: casual clothing and accessories FAME FOREVER: funky clothes for youths FORCA: clothes and accessories for urban male JUNIORS: trendy apparel for 0-12 kids.
STORE POSITIONING
Positioned as
FLOOR SIZE LOCATION CATEGORIES # OF SKU # OF SUPPLIER
AVG BILLING PER CUST Rs 800 AVG FOOTFALLS 1200-weekdays and 6000-weekends
VISUAL MERCHANDISING
RETAIL FUNCTIONS
Strategic Functions
Retail Functions
Operations
Suppport
STRATEGIC
Plan- will open eight or nine Lifestyle store Introduce new price points Strategic Positioning- Class /Lifestyle retailer Financial Planning - Rs 400 crore Site Location-such as Chennai , Bangalore and Hyderabad, as well as Gurgaon in the North have been great
OPERATIONAL
Sales 25 to 30 % growth
Store Planning- Standardised store formats Eg : 70 % apparels rest accessories Follows geographical taste and preferences
PLAN
HOW IS
ASSORTMENT PLANNING DONE?
How do you decide which brands and which products to keep? Regular Consumer Survey How do you make sure the Private Labels have a good turn over rate? Placed beside the National Brands & price it lower At a time how much SKU stock is available in the store? Depends on the store Inorbit Lifestyle - 80,000 SKU (including on-floor & warehouse)
BUY
BUY
DICTATED BY THE MERCHANDISE PHILOSOPHY
There are five major areas to consider: Who buys? What to buy? How much to buy? When to buy? From whom to buy?
Who buys? Has a group of specialists / department who handles the buying of merchandising.
What to buy ?
How much to buy? Open to buy approach: this determines in cash the amount of purchases to make for a particular selling period. Lifestyle s new purchase depends on the past sales . Shelf space storage Inventory storage From whom to buy ? Local vendors
When to buy ? They follow seasonal purchase system. e.g. Autumn-winter, spring-summer Space allocation for apparels versus accessories Terms of sale Terms of payment
MOVE
DISTRIBUTION CENTRE
Move On
MOVEMENT OF STOCK
Inventory management Auto-Replenishment Warehousing 30,000 SKUs kept in the warehouse at a time Everyday check for the movement of stock from warehouse to the store and accordingly recording it in the system. Once in 1-2 days stock is replenished (depending on the sales in the store) Stock is moved to other stores if needed.
SELL
Inventory Updates
Customer Relationship Management
STORE OPERATIONS
Within the store, 55 to 60 per cent space is allocated for apparels. Rest of the space is allocated to accessories and other things.
At a time, a Lifestyle store holds an inventory of around Rs.80,000. Of this, Rs.50,000 worth of inventory is kept on shop floor and rest Rs.30,000 worth of inventory is kept in warehouse in the store.
The in-house brands of Lifestyle are transferred directly to the store. This helps in increasing margins.
Lifestyle has Race Track/ Loop Layout This ensures view and access to multiple departments.
customers to the store. These include putting dropdowns, faades, bi-poles, hoardings, etc.
VISUAL MERCHANDISING
A theme is built around the current collection and season and the whole dcor including the mannequins are suitably changed.
Areas like walls, free standing fixtures, end caps, PoS are used to display merchandise efficiently.
POINT-OF-SALES
Lifestyle efficiently puts merchandise near the billing counter to increase impulse purchases.
INVENTORY UPDATES
Inventory is updated weekly Auto replenishment system is followed
Customer service associates are present in every department to help customers in shopping.
THANK YOU