Edited Extracts from Press Release:
TVS Capital, via its TVS Shriram Growth Fund I, is taking a significant minority equity stake with an investment of Rs.65 crores in Landmark Limited, a leading book and music retail chain. Landmark, which is a subsidiary of the Tata Group retail firm Trent Limited., currently operates over 20 stores over 2 lakh square feet of retail space. For the year ending March 31, 2009, Landmark had gross revenues of Rs.196 crores.
Noel N. Tata, Managing Director of Trent Limited and Chairman of Landmark, said, “We are excited about the equity investment into Landmark, and look forward to partnering with TVS Shriram Growth Fund in our journey to scale up the Landmark’s retail business.”
Gopal Srinivasan, founder and Chairman of TVS Capital said, “Landmark is a marquee investment for us and we are excited to enable the next wave of growth at one of the leading specialty retailers in India. Under the leadership of Mr. Noel Tata, we believe Landmark is well positioned to expand further across India. We are delighted to be associating with Trent from the Tata Group.”
TVS Shriram Growth Fund is targeting consumer consumption driven opportunities, like organized retail businesses, and Landmark is the first investment of the Fund in retail segment.