i. Sai Silks is amongst the top 10 retailers of ethnic apparel, particularly sarees, in south India in terms of revenues and profit after tax in Fiscal 2020, 2021 and 2022. Through their four store formats, i.e., Kalamandir, VaraMahalakshmi Silks, Mandir and KLM Fashion Mall, they offer their products to various segments of the market that include premium ethnic fashion, ethnic fashion for middle income and value-fashion, with a variety of products across different price points, thereby catering to customers across all market segments.

ii. The company leverage its store network of 54 stores as of July 31, 2023, to focus on spreading India’s vibrant culture, traditions and heritage by offering a diverse range of products which includes various types of ultra-premium and premium sarees suitable for weddings, party wear, as well as occasional and daily wear; lehengas, men’s ethnic wear, children’s ethnic wear and value fashion products comprising fusion wear and western wear for women, men and children

iii. The share of organized retailing in apparel has increased from 14% in Fiscal 2007 to 32% in Fiscal 2020. The evolution of the market, in its current phase, represents distinct segmentation of channels of organized retail for apparel. This phase also represents emergence of category leaders in respective groups of western (formal and casual), Indian, and athleisure (Source: Technopak Report). Historically, the ethnic retail trade of sarees was dominated by unorganized players in small format stores with a very few organized players.

iv. The company believe that stores provide a unique experience and customer service, which combined with their inventory and variety of SKUs that they offer, enables them to attract and retain a growing customer base that, as of July 31, 2023, exceeded over 5.98 million customers in India.

v. Our ethnic wear and value-fashion products are available through our stores under four different format stores, i.e., Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall, as well as through e-commerce channels comprising our own website and other online e-commerce marketplaces.

Value Proposition

i. Variety of Products and Stock Keeping Units
ii. Design
iii. Store Aesthetics and Interiors

Marketing and Sales

They produce distinctive and unique marketing campaigns to generate high customer engagement. The company believes their focus on quality, customer service, product range and customer-oriented policies together with the celebrity endorsements, targeted marketing and arrangements with local artisans to address regional preferences, have enabled us to develop strong brand recognition and customer loyalty.

Competitive Strengths

Leading apparel retail brand in India with a scalable model which is well positioned to leverage growth in the ethnic and value-fashion apparel industry in India.
Strong presence in offline and online marketplace with an omni-channel network.
Track record of growth, profitability and unit economics with an efficient operating model.
Experienced Promoter, management and in-house teams with proven execution capabilities.