to Tripoli, Max to Saida
$15 million invested in next two years
Landmark Group, the owner of lifestyle and fashion brands Centrepoint, Max, and Home Centre, plans to expand its presence in the local market, according to Dinesh Maurya, Territory Head at the group.
The group is opening a Centrepoint outlet in Tripoli. The 25,000-square-meter space will be a standalone unit.
Maurya said: “We have just started working on the land, which will be ready in around eight months.”
Centrepoint also opened a 3,000 m2 outlet today at The Spot Choueifat. Simon Cooper, Head of Centrepoint at Landmark, said the location had been chosen due to the area’s popularity and that the brand was not present.
He also said that besides the coming Tripoli branch, there might be another two or three Centrepoint stores which would be located far from the Beirut area.
Landmark will also open Max, a fashion brand, in Saida. The outlet will be 14,000 m2
“We haven’t yet signed on a location, but we are looking at some options,” he said.
Landmark will also open Home Centre in Beirut. It will have a minimum space of 4,000 m2. The only other Home Centre is located in Sin el Fil.
“We are investing a minimum of $12-$15 million in the next two years,” said Maurya.
The group decided to focus on medium term plans, to see how the market performs.
The group is still considering a franchise model.
“We are optimistic about Landmark’s future in the local market,” he said.
Reported by Yassmine Alieh
Date Posted: May 18, 2017