Max, home centre owner's sales grow 46% in FY23
Lifestyle International, the company that runs an eponymous department chain in India, grew 46% in the year to March 31, 2023 to '11,810 crore.
According to financials sourced from Tofler, Lifestyle International reported a net profit of '700 crore in 2022-23, a 160% jump from the last financial year. Total expenses for the fiscal was at '10,877 crore.
In comparison, Shoppers Stop reported '5,066 crore annual revenue and Aditya Birla Fashion and Retail reported '12,418 crore in revenue.
Lifestyle International, part of Dubai-based Landmark Group, operates Lifestyle department store chain, value format Max, and home furnishing store Home Centre.
Sales of organised retail segments grew 34% in FY22-23 compared to pre-pandemic (FY20), largely driven by quick service restaurants, sporting goods and electronics, a report by the Retailers Association of India (RAI) said.
However, in the last few months, the growth rate has slowed down.
