Lakewood set to expand

Lakewood Malls, the Rs 50 crore retail arm of the Hiranandani Group, is set to expand its operations at a fast clip during the next fiscal.

The company, which over the past four years has been experimenting with a various formats, has zeroed in on supermarket, lifestyle stores and culture shops as its focus.

According to Priti Hiranandani, director, Lakewood Malls, the supermarket chain under the brand Haiko will see rapid expansion across select cities. "Tier I & tier II cities will be the focus of the expansion," Hiranandani said.

The company on Tuesday announced its entry into Bangalore with a lifestyle store selling around 40 footwear brands. Lakewood will also open its culture shop Suriti within the next couple of months in city.

"We presently have seven shops across all formats. Our supermarket chain will start to dot the cities in the coming months and we are generating enough resources to fund the expansion," she added.