lifestyle stores full retail

8/13/2019 Lifestyle Stores Full Retail

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:

Deepti Arora 6)Manu Mathur 26)Ankit Mehta 27)Anuja Pathak 34)Keerthana Arcot 49)Smriti Sudish 50)Shalaka Tiwari 56)


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KEYFACTS 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


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AWARDSANDACCOLADES

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 AwardExpress 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


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Living

Bedroom

DiningWood &

Fabric

Sho & Carr

Beauty Accessories SunglassesPensWatches

Beauty &

Fashion

Accessories

HandbagsChildrenWomenMen

Footwear, Handbags & TravelClothing

Women Men Children

Jewelllery

Children

Toys School &

StationaryApparel

DEPARTMENTS

Home Center

Home wareAccessories Modular KitchensSoft Furnishing Furniture

Ethnic &Fusion

Lingerie

Western

FormalCasual

DenimSports

Innerwea

r

Ethnic

Girls

Boy

s

Fragrances

Colour Cosmetics

Skin Care

Bed Linens

Curtains

CushionsBath & Laundry

Lamp

Gifts &

Interiors

Crockery &

Cutlery

Kitchenware


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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.


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STORE POSITIONING

Positioned as A youthful, stylish and avibrant brand.

FLOOR SIZE 50,000 sq ft avg

LOCATION Satellite highway, crossroad, phoenix

CATEGORIES Apparel and accessories

# OF SKU 34 categories

# OF SUPPLIER 94

AVG BILLING PER CUST Rs 800

AVG FOOTFALLS 1200-weekdays and 6000-weekends


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VISUALMERCHANDISING


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Retail Functions

Strategic

Functions

Operations

Suppport

RETAIL FUNCTIONS


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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


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OPERATIONAL

BuyingHQ Bangalore

3 - 4 months prior

o Sales25 to 30 % growth

o Store Planning- Standardised store formats

Eg : 70 % apparels rest accessories

Follows geographical taste and preferences


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SUPPORT

Real estate

IT

HR

Admin


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PLAN


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HOWARETHE

DEMANDSFORECASTED?

Based on past data

Every year a growth of 10-15% is calculated on the

previous years data

Seasonal demand Normal demand


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HOWIS

ASSORTMENTPLANNINGDONE?

How do you decide which brands and which products tokeep?

Regular Consumer Survey

How do you make sure the Private Labels have a goodturn 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)


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BUY


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BUYBUYINGISAPROCESSOFIMPLEMENTINGTHEDECISION

DICTATEDBYTHEMERCHANDISEPHILOSOPHY

There are five major areas to consider:Who buys?

What to buy?

How much to buy?

When to buy?

From whom to buy?


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Who buys?

Has a group of specialists / department who handles thebuying of merchandising.

What to buy ?

Past experience- depend on sales records of previous

years.

Current information- Merchandise that is hit among the

customers is preferred.


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How much to buy?

Open to buy approach: this determines in cash the amount ofpurchases 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

Manufacturer owned retail chainsthe national brands


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When to buy ?

They follow seasonal purchasesystem.

e.g. Autumn-winter, spring-summer

Space allocation for apparels versusaccessories

Terms of sale

Terms of payment


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MOVE


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DISTRIBUTIONCENTRE

Move On


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MOVEMENTOFSTOCK

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.


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SELL


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WHATSELLENCOMPASSES?

Sell encompasses all activities performed on the shop

floor or retail outlet premises to verbally or visually

encourage the customer to purchase merchandise

from the retail outlet, offer unique shopping

experience to the customer culminating in a transfer

of merchandise to the customer on payment.


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MAJORSELLPROCESSES

Store Operations

Visual Merchandising

Point-of-Sales

Inventory Updates

Customer Relationship Management


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STOREOPERATIONS

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.


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STOREOPERATIONSCONTINUED..

Lifestyle has Race Track/ Loop Layout

This ensures view and access to multiple

departments.

Also, various branding activities are undertaken in

the mall where the store is located to attract

customers to the store. These include putting drop-

downs, faades, bi-poles, hoardings, etc.


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VISUALMERCHANDISING

The navigation in the store is easy and not cluttered.

Store Atmospherics like scent, music, lighting are used

carefully to attract customers.

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.

Signages are put up in the store to guide customers.


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INVENTORYUPDATES

Inventory is updated weekly

Auto replenishment system is followed


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CUSTOMERRELATIONSHIPMANAGEMENT

Lifestyle has an excellent customer relationship

management system in place.

Various facilities like alteration, exchanges, home-drops

are offered to customers.

Lifestyle has a customer loyalty programme which goes

by the name The Inner Circle and which is valid in all

Landmark stores. A lot of benefits are offered to

customers through the loyalty card.

Customer service associates are present in every

department to help customers in shopping.


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CUSTOMERRELATIONSHIPMANAGEMENT

Also, the store conducts various customer

engagement activities usually on weekends or

around some festival time.

Customers are given gift hampers or discount

coupons. This encourages them to make morepurchases from the store.


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THANKYOU

lifestyle stores full retail

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