Lifestyle International, which operates Lifestyle, Max and Home Centre retail chains, will make a foray into e-commerce next year through a separate company, an official said.
The retail major owned by Dubai-based NRI businessman Micky Jagtiani has identified e-commerce as its next big thrust area, having emerged as a major and profitable player in the brick-and-mortal retail space in India, Mr. Kabir Lumba, managing director of Lifestyle International said.
“E-commerce will become an extension of our physical stores and will be an attempt to be near the consumer. It will be extended to mobile commerce too,” Mr. Lumba said. “All of these will be through a separate company which will be equity funded.”
Lifestyle plans to set up dedicated online store for its three formats the eponymous departmental store, value-fashion format Max, and home decor and furniture format Home Centre.
It is also evaluating options of acquiring an ecommerce firm and partnering large online marketplaces Amazon, Flipkart and Snapdeal, Mr. Lumba said. “However, we do not want our e-commerce venture to operate on the discounting model,” he said, adding that it would focus on the consumer convenience.
At present, Lifestyle sells few of its private fashion labels through online stores such as Jabong and Myntra, while Max last month set up its virtual store on Flipkart. However, revenue contribution from these moves is still negligible.
The retailer operates 43 Lifestyle stores, 110 Max stores and 18 Home Centre outlets across the country, and its revenues touched Rs 3,700 crore last fiscal.
