SHR Lifestyle Pvt. Ltd.’s brand, Shree – The Indian Avatar is aiming to have 500 stores pan India in the next 5 years.
With the newest store in Naraina, New Delhi, Shree – The Indian Avatar has now opened its 95th store and will soon be a 100-store strong brand.
Despite the pandemic, the brand continued to grow and in 2020 alone it launched 18 stores. In 2021, thus far it has further expanded the brand with stores in Jhunjhunu, Rajasthan, and Elante Mall, Chandigarh, Punjab. Next up, it is looking to open brand stores in Agra and Aligarh in Uttar Pradesh; Bhogpur in Punjab.
Speaking on the expansion plans, Sheetal Kapoor, Joint Managing Director, SHR Lifestyle Pvt Ltd, said, “We are happy that we will soon be a 100-store brand. This is just a small step towards a bigger goal; we aspire to have 500 stores pan India in the next 5 years. With the vaccine out and life slowly returning to the new normal, we are confident that the fashion market will see an upward swing, and this poses tremendous scope for growth in the garment retail sector.”
The company currently stands at a turnover of Rs 68.97 crore and is growing. Mumbai-based private investment firm Alpha Capital’s Rs 80 crore is being effectively utilized to further deepen the brand’s reach in existing markets and open up newer geographies; expand distribution networks by setting up new retail stores, add senior talent and increase customer base. This partnership will further help the brand materialize its vision of growing to over 300 stores in the next 2-3 years.
The company has a team of 350+ dedicated professionals working across its head office (based in New Delhi), branch office (based in Mumbai), production units, and retail stores nationwide. The brand stands firmly for a truly Indian product – inspired by India, sourced in India, made in India for the leading women of India.