Its 60th store of the company and 9th store in Tamil Nadu
Hosur, March 15, 2024: Ethnic apparel retailer Sai Silks Kalamandir Ltd (SSKL) has launched its 60th store under Kancheepuram Varamahalakshmi Silks format in Mookandapalli, Hosur, Tamil Nadu.
The newly inaugurated store by HH Sri Sendalangara Shenbhaga Mannar Sampathkumara Ramanuja Jeeyar Swamigal is 9th store in Tamil Nadu and 60th store of the company. The store offers premium ethnic sarees & handlooms for wedding & occasion wear. The product portfolio comprises premium sarees such as Banarasi, Patola, Kota, Paithani, Organza, Kuppadam, and Kancheepuram silk sarees.
With a strong presence in Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, the company offers a diverse range of products including ultra-premium and premium sarees, lehengas, and men and children’s ethnic wear.
Prasad Chalavadi, Managing Director, Sai Silks Kalamandir Ltd said, “We are delighted to open 9th store in Tamil Nadu. This shows our commitment to Tamil Nadu for delivering much needed growth by expanding our presence in ever growing ethnic wear market in Tamil Nadu.
“In order to support our growth strategy, we intend to further penetrate in Tamil Nadu like we did in Telangana and we will build large warehousing facility as we open more number of stores to support our growth,” added Prasad Chalavadi.
SSKL plans to focus on the South Indian market as it is the largest saree market of India contributing 50% of saree sales in the country.
About SSKL:
SSKL operates through four different format stores, namely Kalamandir, Mandir, Varamahalakshmi Silks, and KLM Fashion Mall, as well as through e-commerce channels that include their own websites and other online e-commerce marketplaces.
The diverse range of products offered includes (i) various types of ultra-premium and premium sarees suitable for weddings, party wear, as well as occasional and daily wear; (ii) lehengas; (iii) men’s ethnic wear; (iv) children’s ethnic wear and (v) value fashion products comprising fusion wear and western wear for women, men, and children.
The company has declared Rs. 1351 crore in sales and PAT of Rs. 97.60 crore in FY23 and per sft realisation is Rs. 22,397. SSKL is the first large saree retailer to tap the markets to raise funds through an IPO and it has grown from a single store in 2005 to 59 stores with a total floor area of more than 6 lakh square feet.
