lifestyle stores full retail
TRANSCRIPT
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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