Located at Mookandapalli, Hosur, it is the 60th Sai Silks store in the country and the ninth in Tamil Nadu
Bengaluru: Ethnic apparel retailer Sai Silks Kalamandir Ltd. (SSKL) has launched its new store under Kancheepuram Varamahalakshmi Silks format in Tamil Nadu, the company said in a press release on Tuesday.
Located at Mookandapalli, Hosur, it is the 60th Sai Silks store in the country and the ninth in Tamil Nadu.
“We are delighted to open our ninth store in Tamil Nadu. This shows our commitment to Tamil Nadu for delivering much-needed growth by expanding our presence in the ever-growing ethnic wear market in Tamil Nadu,” said Prasad Chalavadi, managing director at Sai Silks Kalamandir.
“To support our growth strategy, we intend to further penetrate in Tamil Nadu like we did in Telangana and we will build a large warehousing facility as we open more number of stores to support our growth,” added Chalavadi.
The store offers wedding and occasion wear sarees and handlooms.
Currently, the retailer has a presence in Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Sai Silks is planning to focus on the South India market as it is the largest saree market in the country, contributing 50% of saree sales.
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 its own websites and other online e-commerce marketplaces.
The company, which originated from a single store in 2005, has expanded its presence to encompass 60 stores, boasting a combined floor space exceeding 6 lakh sq. ft., while reporting sales of Rs 1,351 crore and a profit after tax of Rs 97.60 crore in fiscal year 2023.
The company was one of the many companies that went public last year. One of the key reasons for raising funds through the stock markets was aggressive expansion.
