From Mercedes-Benz to Mahindra: Tracking Landmark Cars' Journey of Brand Expansion

In December 2022, as Landmark Cars Ltd prepared for its initial public offering (IPO), Sanjay Thakker, the company's chairman, promoter, and executive director, was brimming with optimism. His luxury and premium auto dealership chain was on an upward trajectory, with plans to expand aggressively through a mix of brownfield and greenfield acquisitions.

At the time, Landmark boasted 112 outlets across 32 cities, including 59 sales showrooms and 53 after-sales service and spare parts facilities, catering to aficionados of marquee brands such as Mercedes-Benz, Honda, Jeep, Volkswagen, Renault, and BYD. The company had made significant inroads using an acquisition-driven model, ...