The best performing category is the SRS Value Bazar: Tinku Singh, SRS Group

SRS Limited runs its retail operations under the brand names of SRS Value Bazaar SRS Fashion Wear. In an exclusive conversation with Tinku singh,Group President and Chief Strategy Officer (CSO), SRS Group shed light on overall group operations.
“The best performing category is the SRS Grocery”: Tinku singh, SRS Group

Shed light on your retail business with exact distribution point of each retail format?

SRS Value Bazaar is a modern format retail store chain that offers food & groceries, home care, cosmetics, personal care, crockery, appliances, accessories and much more, thereby becoming a one-stop solution for its consumers. Offering a modern and pleasant ambience to deliver unmatched value, a vast choice of products and brands customized to local tastes and high service levels have made them the preferred store of consumers. SRS Fashion Wear retails trendy apparel for ladies, gents and children. It offers a range of leading brands for casual, semi-formal and formal wear .It has stores in Faridabad and Palwal.

Let's begin with value format, what sort of categories you are retailing via this chain apart from FMCG and fashion? What is the average size of such stores? Do you also retail private labels via such stores? If yes, kindly provide the details? Also shed light on your best performing category?

Apart from FMCG and fashion, SRS is into Grocery, jewellery, 7days. The Average size  of the store is 4500 sq ft, And yes SRS retail private lable by the name of SRS atulya. The best performing category is the SRS Value Bazar.

What are the growth plans to scale up the distribution for value chain? How much investment will pumped up for further expansion?

The Indian retail industry arose as one of the most active and rapidly growing market due to the entry of several new players into the field. This makes the competition intense- with unorganised players and mom-n-pop stores fighting for leverage. This accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment, catapulting India to the stature of world’s fifth-largest global destination in the retail space.

How you are making your store aligned with upcoming GST especially in grocery segment? What kind of preparations are going on to upgrade the system?

Let the GST roll out, then will have a much more clarity on the segment.

Are you only retailing precious metals like Gold as far as your Jewellery store are concerned? 

SRS jewelery believes in synchronizing the best of materials that can be sourced to create the most exquisite pieces at wholesale value. We deal with Gold, platinum, diamond- all but silver. As everyone knows Gold, diamond and platinum are the three triumvirates of jewelery and we want to focus on that. Our gold signifies opulence; our diamonds signify the drive to achieve and the platinum eschew the art of retaining elegance in all circumstances.

How you Jewellery segment is different from market leaders like Tanishq and Geetanjali? 

We believe in garnering a name for ourselves through our services and product line. For us customer is akin to god and we differentiate ourselves through this philosophy. Our drive to serve consumers with the very best at the most valuable has helped us carve a niche for ourselves. To see the smile in our consumers face is the ultimate reward for us and we want to retain this through cutting edge product portfolio.

How you are looking to expand the store count in this segment? Any plans to foray imitation Jewellery segment?

SRS jewellery epitomizes the new entrepreneurial spirit of India. This is evident in its growth trajectory, business models and its pro-activeness to embrace new ideas to fuel profitable growth. Its guiding light is the motto of 'Enduring Quality & Trust' which denotes the company's belief in integrity, innovation and customer focus. Hence we are not planning to expand, with focus reaming on product development  and customer retention.

Shed light on your cinema exhibition chain and how you are looking to expand this category?

SRS Cinemas has grown from a single theatre to a large, mature player that is now a well-established name in Cinemas. The company has its multiplexes across Faridabad, Gurgaon, Ghaziabad, Bijnor, Gorakhpur, Patiala, Ludhiana, Shimla, Lucknow, Bhiwadi, Agra, Hajipur, Ranchi, Kashipur, Muktsar, Bareilly  and Saharanpur. SRS Cinemas have a presence across 17 cities with 22 Multiplex, 62 Screen and 16099 seats in India.

Any plans to make international foray?

SRS Cinemas is a brand that is fast spreading its footprint across the major cities of North India. We intend to remain close to our roots and don’t have any plans to expand to the international borders . Our core values are entrenched in indian diaspora and hence would like to concentrate on strengthening our presence across india

 

Tinku singh
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