Its 63rd store of the company and 12th store in Tamil Nadu
Madurai, September 05, 2024: The 63rd Sai Silks Kalamandir Ltd (SSKL) ethnic clothing store, situated on Mattuthavani Main Road across from Saravana Stores in Madurai, has opened for business under the Kancheepuram Varamahalakshmi Silks format.
The 63rd store overall and the 12th in Tamil Nadu is the recently opened store of Sri Valar Sri Harihara Sri Gnanasambanda Desika Paramasariya Swamigal. The shop sells exquisite handlooms and ethnic sarees for special occasions like weddings. Premium sarees like Banarasi, Patola, Kota, Paithani, Organza, Kuppadam, Ikkat, Bandhani, and many more can be found in the product portfolio.
Varamahalakshmi Silks, located in Kancheepuram, is renowned for producing exquisite silk sarees at remarkably low costs. All saree variants are available at the lowest prices on the market thanks to this brand. The company’s in-house looms and designs enable them to provide the best possible costs. The company’s PQR offering—best PRICE, top QUALITY, vast range—is well-known.
Managing Director of Sai Silks Kalamandir Ltd. Prasad Chalavadi stated, “We are thrilled to expand our retail presence in southern India by launching our 12th store in Tamil Nadu. By increasing our presence in the rapidly rising ethnic wear market in Tamil Nadu, we are demonstrating our commitment to the state and helping it achieve much-needed growth.
The first Varamahalakshmi format store opened its doors in 2011 in Chickpet, Bengaluru, offering patrons occasion dress and other handloom and the renowned Kancheepuram silk sarees all under one roof.
About SSKL:
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 their own websites and other online e-commerce marketplaces.
The diverse range of products offered includes (i) various types of ultra-premium and premium sarees suitable for weddings, party wear, as well as occasional and daily wear; (ii) lehengas; (iii) men’s ethnic wear; (iv) children’s ethnic wear and (v) value fashion products comprising fusion wear and western wear for women, men, and children.
The company has declared Rs. 1373.55 crore in sales and PAT of Rs. 100.87 crore in FY24 and per sft realisation (Sales) is Rs. 21,230/-. SSKL is the first large saree retailer to tap the markets to raise funds through an IPO and it has grown from a single store in 2005 to 61 stores with a total floor area of more than 6.47 lakh square feet by March 2024.
