Chennai, December 26, 2022: Sai Silks (Kalamandir) Limited (Sai Silks or SSKL), one of the leading retailers of ethnic apparel, particularly sarees, in South India in terms of revenue and profit after tax in Fiscal 2019, 2020 and 2021 (as per a Technopak report), launched its 52nd store in Chennai, Tamil Nadu.
The new SSKL store, which operates under the brand name ‘Kancheepuram VaraMahalakshmi Silks’, boasts of an area of more than 12000 sq. ft. across three floors and is located at Pondy Bazaar, T. Nagar, Chennai.
The VaraMahalakshmi store is the fourth such store in Tamil Nadu – the others being located at Mylapore, Chennai and Gandhi Road, Kanchipuram, and Anna Nagar, Chennai. The store offers premium products including a variety of sarees such as Banarasi, Patola, Kota, Kanchipuram, Paithani, Organza, Kuppadam, etc., with major focus on handlooms such as Kanchipuram silk sarees.
SSKL’s stores are focussed 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 and ethnic wear, including value fashion products. The premium ethnic silk sarees and handlooms targets, inter alia, wedding and occasional wear. VaraMahalakshmi sarees retail in the range of approximately Rs. 4,000 to Rs. 250,000.
Mr. Nagakanaka Durga Prasad Chalavadi, Managing Director, Sai Silks (Kalamandir), said, “Sai Silks is continually being recognised as being an ethnic fashion authority with our diverse offerings including ultra-premium and premium sarees as we believe in celebrating all of life’s grand moments in style. We are delighted that our fourth Kancheepuram VaraMahalakshmi Silks store is in Tamil Nadu and it showcases our strength of delivering high value experience for our customers. The new store offers our entire range of premium silk sarees and Kanchipuram sarees.”
Mr. Chalavadi added, “Our endeavour has been to open stores in the same city to efficiently manage stores and inventory, and to tap the purchasing power of customers with a cluster-based model. The Kancheepuram VaraMahalakshmi Silks stores provide a unique experience and customer service, which combined with our inventory and variety of SKUs that we offer, it enables us to attract and retain a growing customer base. Our aim is to 25 additional stores across South India in all our four formats over the next two years.”
Sai Silks has tapped renowned actress Janhvi Kapoor for the launch of the store. Commenting on the occasion, actress Janhvi Kapoor said, “It’s very exciting to launch Sai Silks fourth Kancheepuram VaraMahalakshmi store in Chennai. Sai Silks’ expertise, focus on innovative designs provides the inspiration to go out in style and enjoy life’s precious moments. The firms focus on quality, customer service, product range is unique and strengthens its brand recognition and enhances customer loyalty.”
The VaraMahalakshmi retail brand format was established in 2011 with the first store opening in Chickpet, Bengaluru, and has been further scaled in cities such as Bengaluru, Hyderabad, Chennai, Vijaywada, Nellore etc. as of May 31, 2022.
VaraMahalakshmi stores are more traditionally decorated and reflects the brand’s roots in the Kancheepuram culture. It was conceived as a brand which would reinvent the handloom saree business and offers Kanchipuram silk sarees and other handloom and occasion-wear sarees under one roof.
Sai Silks has four store formats including Kalamandir, Kancheepuram VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall, offering 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.