Renuka Jagtiani on Landmark Group’s billion-dollar bet

Dubai-based retail giant Landmark Group plans to invest $1bn (Dhs3.67bn) in the UAE, GCC, India and Southeast Asia to open 400 new stores over the next three years.

The group, which employs 53,000 people, revealed that the new 400 outlets will create 15 to 20 per cent additional employment opportunities, amounting to 7,950 to 10,600 new jobs in the well-diversified group’s different units.

Here, Renuka Jagtiani, chairwoman of Landmark, discusses the retail conglomerate’s growth, expansion plans, e-commerce investments, and sustainability initiatives.

Q. Landmark Group has grown exponentially over the past five decades. What key milestones and turning points in the group’s journey have contributed to its success?

Over the past five decades, many factors have contributed to our success, including our entrepreneurial spirit, our commitment to empowering people and listening to our customers, and, lastly, our ability to stay relevant by adapting to evolving market conditions, changing consumer habits, and macroeconomic conditions.

As the home of owned brands, we have experienced some key turning points that have allowed us to stay relevant and serve generations of families who have grown up with our brands. Introducing new brands across categories, expanding our retail footprint, and pioneering e-commerce are some of the key highlights of our journey.

Our journey began in 1990 when we launched our footwear business with Shoemart in the UAE after we relocated from Bahrain. We expanded our footprint to Saudi Arabia in 1994 and India in 2001. Over the years, we’ve cultivated a diverse portfolio of brands, including Splash, Home Centre, Lifestyle, Max Fashion, Centrepoint, Home Box, and VIVA.

A pioneer in regional e-commerce, we launched our omnichannel venture in 2012. Our online business has consistently grown by over 20 per cent annually in the GCC. As of 2024, we operate 12 independent e-commerce stores, contributing up to 20 per cent of total sales. We’ve also established a strong marketplace presence in the GCC and India, offering both our own and third-party products.

Landmark initiated its sustainability journey in 2014 with Splash, focusing on responsible product development. We’re committed to becoming a circular and climate-positive organisation that encompasses sustainable products, operations, and customer experiences. This includes innovations in product design, packaging, transportation, energy usage, and recycling.

Q. Tell us more about the group’s growth strategy and the opportunities you foresee in the markets where you currently operate.

We are investing $1bn over the next three years to expand our retail footprint across the GCC, India, and Southeast Asia. Landmark also plans to refresh its existing stores and further strengthen its online presence and operations to bring value and convenience to its customers.

To better serve our customers, Landmark will expand its presence in key markets. VIVA will launch in Saudi Arabia in 2025, while the UAE and Oman will see significant store growth, with nearly 100 stores in the UAE and plans for 50 new stores in Oman by 2028.

Finally, we are committed to growth in India. With 25 years of experience in the market and nearly 1,000 outlets across 265+ cities, the group plans to add 250 more stores in the next three years, including eight new Babyshop stores in key cities within six months.

Q. How has the group embraced e-commerce and sustainability to stay competitive in the evolving retail landscape?

Since pioneering e-commerce in the GCC region in 2012, Landmark has steadily expanded its omnichannel presence. Our online business has experienced robust growth, exceeding 20 per cent annually in the Gulf region. Today, our 12 independent e-commerce stores account for a significant portion of our total sales, reaching up to 20 per cent.

Similarly, we have a robust marketplace presence in the GCC and India, offering both our own and third-party products on our websites. To further enhance our omnichannel strategy and seamlessly reach customers, we’ve digitised our stores and supply chain. This includes features such as “Click n Collect” and smart self-checkouts.

We’ve been at the forefront of technological advancement, as evidenced by the launch of the Mega Distribution Centre in JAFZA in 2019. The state-of-the-art distribution centre is a testament to our commitment to operational excellence. Our ongoing investments in AI-driven supply chain optimisation, cutting-edge e-commerce platforms, and advanced point-of-sale systems ensure we remain ahead of the curve and deliver exceptional customer experiences.

Since 2014, we’ve been on a mission to make a positive impact through sustainable practices, starting with Splash. Our ambitious goal is to achieve a circular and climate-positive future by 2050 across our entire value chain. This involves sustainable product design, eco-friendly packaging, efficient transportation, reduced energy consumption, and effective recycling programs.

• Sustainable Products: We are a pioneer in sustainable sourcing and were the first and largest buyers of Better Cotton in our markets. We’re committed to responsibly sourced materials and finished products.
• Sustainable Operations: We’ve made significant strides in energy efficiency. Solar power now powers 14 per cent of our UAE energy needs, and we’re continuously optimising energy management across our facilities.
• Sustainable Customer Journeys: We’re enabling circular customer journeys through reusable and paper bags, e-receipts, and a take-back program for used clothes in the UAE.

Landmark has made significant strides in green finance and treasury, partnering with leading banks to convert our products to sustainable options. We pioneered the region’s first bilateral sustainability-linked loan with Standard Chartered Bank in 2022, followed by similar agreements with Saudi and Qatari banks.

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