Ethnic apparel retailer Sai Silks Kalamandir which made a successful debut on the stock exchanges recently, has opened new store under Kancheepuram Varamahalakshmi Silks format in Coimbatore. This is in line with the company’s plans to set up 30 new stores in the next three financial years across different formats.
Leading actress Shruti Haasan, who appears in Tamil, Telugu and Hindi will inaugurate the store at 100FT Road.
The store offers premium to ultra-premium products including a variety of designer sarees such as Banarasi, Patola, Ikat, Kanchipuram, Paithani, Organza and Kuppadam. This would take the total store count to 56.
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, CMD, Sai Silks Kalamandir Ltd said, “We are delighted to make a successful IPO debut and now expand our presence in Tamil Nadu, which is in line with our growth plans outlined at the time of listing.
In order to support our growth strategy, we intend to further penetrate consumption centers like Coimbatore in Tamil Nadu. Coimbatore is the second largest city in terms of population and spending power, after Chennai in Tamil Nadu. A major hub for manufacturing, education and healthcare in Tamil Nadu, Coimbatore is among the fastest growing tier-II cities in India.”
No best time to open stores than today as the festivals time is around and the spending on ethnic wear is very high during Dussehra, Diwali, Christmas to Sankranti in Tamil Nadu.”