Faridabad-headquartered, Rs 700 crore SRS group is on an expansion mode. The group, which has interests spanning real estate, retail, multiplexes, hotels and aviation has earmarked about Rs 600 crores investments for the current fiscal to expand network of SRS value Bazaar stores, and Fashion Wear, recently launched chain of exclusive stores for apparel.
Speaking to Indiaretailing, Gourav Sain, head, marketing and sales, SRS Group said, “For our hypermarket store, SRS Value Bazaar, we have earmarked an investment of about Rs 500 crores in the current fiscal for opening about 100 new stores, mainly across North India.” At present, North India has 28 SRS Value Bazaar stores..
Speaking about the group’s first exclusive apparel store called Fashion Wear, Sain said, “We plan to invest about Rs 100 crores to open 25 Fashion Wear stores in the current fiscal, mainly in the metro cities of India”.
Fashion Wear was recently opened at Crown Interiorz in Faridabad.
Another vertical of the SRS group, SRS cinema, which operates three multiplexes in Faridabad and one in Gurgaon totaling nine screens, has already signed lease agreements with various developers to have about 90 screens. “We plan to have at least 50 screens by the end of this fiscal, mainly in the Northern India,” said Sain.
According to SRS group, the newly launched Fashion Wear will operate as a sub-brand of SRS Value Bazaar. It will offer more than 30 Indian and International premium apparel brands including Lee, Levi’s, Wrangler, Van Heusen, Louis Philippe, and Lilliput.
– Raja Ghoshal