NEW DELHI : Retail company Lifestyle International-India, part of Dubai-based retail and hospitality conglomerate Landmark Group—that runs popular formats such as Lifestyle, Max, and Home Centre in India—on Wednesday announced the exit of Vasanth Kumar as the head of company’s India operations.
Kumar will be transitioning from his full-time role as managing director, Lifestyle International Pvt Ltd., effective June 30, 2020, the company said in a statement on Wednesday.
The company did not immediately announce a successor to Kumar—who has spent 15 years at the retailer scaling various formats such as value fashion retail chain Max here.
Kumar will continue to support the company until a suitable successor is appointed and inducted in this position, the company said.
Kumar was appointed as managing director of Lifetsyle International in 2017, replacing Kabir Lumba who was then appointed as chief executive officer of Max, and a director of the parent company in Dubai.
In India, Lifestyle International Pvt. Ltd started operations in the late 90s with its maiden Lifestyle department store in Chennai. The company today has over 400 stores in 130 cities in India across its Lifestyle department store, Home Centre, Max, and Easybuy retail formats.
“In the last two years, he (Kumar) has driven the consolidation and growth of Lifestyle and Home Centre, significantly,” said H. Ramanathan, chairman of the board, Lifestyle International Pvt Ltd-India. “In due course, we shall announce the successor to this position,” he added.
Kumar said he was stepping away to rebalance his personal commitments and professional aspirations.
Lifestyle International is part of Dubai-based Landmark Group, founded by former taxi driver-turned-billionaire Micky Jagtiani. The group has interests in retail, hospitality, and shopping malls across the Middle East and India. It runs fashion departmental store Lifetsyle, hypermarket format Spar, apart from fashion brands Max, Splash, kids retail format Babyshop among others.