Landmark Group reshuffles India leadership team
Bengaluru: Dubai-based Landmark Group, the parent company of retail brands like Max Fashions and Lifestyle International Pvt. Ltd, announced various changes in its India leadership team on Tuesday.
Kabir Lumba, currently the managing director of Lifestyle International, will now become the chief executive officer of Max and a director of the parent company and will shift to Dubai to take on those roles. Lumba has led Landmark’s departmental and home needs brands, Lifestyle and Home Centre, respectively, for the past 14 years. He will take on his new role from current global CEO of Max Ramanathan Hariharan, also the chairman of the Lifestyle India Board, on 1 May 2018.
Lifestyle International is India’s fifth-largest apparel company in the organised space, according to data from research firm Euromonitor International.
Value-fashion brand Max’s current executive director, Vasanth Kumar, will take on the role of managing director of Lifestyle from 1 April 2018 as Lumba transitions to Dubai. Kumar has been with the group for 13 years and has, during that period, built Max and Easy Buy into leading value-fashion brands in the country, the group said in a statement.
Kumar’s current role as Max’s executive director will be filled by Shital Mehta, Landmark Group said. Mehta joins Landmark Group from Aditya Birla Fashion and Retail Ltd (ABFRL). Mehta was the CEO of ABFRL’s Pantaloons brand and resigned from that post in September.
“I am confident that the new leadership will benefit people and the business,” Hariharan said in the statement.
Vinod Menon, who was recently inducted into the board as a director of Lifestyle International, will lead and direct corporate affairs and business support functions, the company added.
Aditya Birla tops the list in India in terms of market share in the apparel space, followed by Future Group’s lifestyle and fashion division and Arvind Ltd’s brands. The market is expected to grow at a compounded annual growth rate (CAGR) of 6.1% between 2017 and 2021, according to Euromonitor.