IndiaRetailBiz

SRS Group, among the country’s leading real estate developer with business interests in real estate, township development, multiplex cinemas, retail, hospitality and aviation sectors, according to press release issued by the company, has forayed into branded apparel retailing by launching its first exclusive retail store under the brand name of Fashion Wear, at Faridabad (Haryana), in the National Capital Region.

“We are proud to expand our retail repertoire with our first exclusive apparel retail store - FASHION WEAR. As a sub-brand of SRS Value Bazaar, FASION WEAR will imbibe all the inherent values of the mother brand while offering our customers the value added benefits, quality, variety of products, fresh stock and an international shopping experience,” said Sunil Jindal, Managing Director of the SRS Group.

The Faridabad-based SRS group, which has achieved a turnover of around Rs. 700 crore, is growing at 30% every year.

Fashion Wear, which proposes to offer over 30 Indian and International premium apparel brands like Lee, Levi’s, Wrangler, Van Heusen, Louis Philippe, Lilliput will operate as a sub-brand of SRS Value Bazaar.

“Our knowledgeable customer sales professionals as well as warm and friendly ambience will only add to our customers’ shopping experience,” added Gourav Sain, Head of Marketing & Sales.

The group, which already operates 29 stores in the North Zone, has drawn plans to expand the retail chain with 16 new stores every month, and has already signed leasing agreements for over 50 locations with developers like Omaxe, and Chadha Group.

The group is also looking at building and operating 15 hyper markets with an area of 50-80,000 square feet each in metro cities. The group hopes to have around 1.5 million sq ft of retail area under operation by the end of the year 2009.