India’s retail Entrepreneur, Ms Hemu Ramaiah ended her Dream Run yesterday when she sold her 24% stake in Landmark [Books, Music, Gifts and Toys] retail to the Tata’s controlled Trent Ltd for an undisclosed sum.
Hemu and her brother Natraj started their first store in Chennai in 1987. They later opened another store in Bangalore. Together they had 4 stores across B’lore and Chennai when Natraj sold his 75% stake in 2005 to Trent . Trent added more stores since then.
Ms Ramaiah said,
I have mixed feelings – it’s almost like giving away a daughter in marriage and hope they will look after it. But it’s the only way a brand can grow in a holistic way. For 20 years, we have been market leaders.
The total retail space under Landmark brand is little over 250,000 sft.