Opens first retail outlet in the existing Kalamandir store in Visakhapatnam
Visakhapatnam, April 03, 2024: Leveraging its brand equity further, ethnic apparel retailer Sai Silks Kalamandir Ltd (SSKL), has expanded its product portfolio with its entry into the silver jewellery market in India. It opened its first fine silver jewellery retail outlet under the “Rasamayi” brand in its existing Kalamandir store in Visakhapatnam.
The decision to venture into Fine Silver Jewellery comes as a natural progression for SSKL, leveraging its decades-long legacy of excellence in the fashion industry. The product portfolio comprises Temple Jewellery, Antique Nakshi Jewellery, CZ Jewellery, Victorian Jewellery, Kundan Jewellery, Moissanite Jewellery, and Ultra Premium Light Weight Jewellery.
Prasad Chalavadi, Managing Director, Sai Silks Kalamandir Ltd said, “We have long been synonymous with quality craftsmanship and timeless elegance in ethnic wear. With our strategic expansion into the realm of silver jewellery, we will cater to connoisseurs of fine jewellery seeking distinctive pieces that exude charm, heritage, and sophistication.
We are excited to enter a new market that resonates with our values, appreciates jewellery, fashion and beauty. Today, jewellery is no longer a stand-alone item but an indispensable accessory for fashion. One accentuates the other.
With the wedding season around the corner, this saree-jewellery combo offering will give an enhanced shopping experience to our patrons. Customers can look forward to exploring an exquisite collection of premium silver accessories that blend tradition with contemporary allure.”
The event was marked by the presence of famous anchor Sreemukhi alongside SSKL Directors.
With a strong presence in Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, SSKL offers a diverse range of products including ultra-premium and premium sarees, lehengas, and men and children’s ethnic wear.
In India, a country known for its love for gold jewellery, the demand for silver jewellery according to the World Silver Survey has seen a significant rise over the past year.
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. 1351 crore in sales and PAT of Rs. 97.60 crore in FY23 and per sft realisation is Rs. 22,397. 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 60 stores with a total floor area of more than 6 lakh square feet.
| Are you an
Entrepreneur or Startup? Do you have a Success Story to Share? SugerMint would like to share your success story. We cover entrepreneur Stories, Startup News, Women entrepreneur stories, and Startup stories
|
Read more Press Releases at SugerMint. Follow us on Twitter, Instagram, Facebook, LinkedIn