Kolkata-based More Group, Rs 1,000 crore conglomerate, has forayed into retail business for apparels with the launch of ‘SNV Shoppee’, an organised value retail chain of stores.
SNV Shoppee will operate under the newly formed company Sanvie Retail Pvt. Ltd.
More Group is investing Rs 150 crore in the first phase of the launch of the new entity.
The company is coming up with 75 shopping outlets across various states of the country as of today.
The main objective of SNV Shoppee is to bridge the economic gap by making high-quality apparels that are affordable for their target consumers.
Special emphasis has been given to the quality of the products to guarantee utmost consumer satisfaction and they get a proper value for the cost.
SNV Shoppee will be launched West Bengal, Odisha, Assam, Uttar Pradesh, Madhya Pradesh, Jharkhand, Bihar, Tripura, and New Delhi mostly into Tier II and Tier III cities and will cater to the masses.
“We further plan to launch seven more stores by the end of the current financial year and 50 more stores by the next year,” said Varun More.
Presently our workforce consists of 1500 plus heads would be recruiting at least 400-500 more people in the coming months. The entire funding has been done through internal accruals of the group.”
At present, there are 21 stores in West Bengal, 14 stores in Odisha, 5 stores in Assam, 17 stores in Uttar Pradesh, 2 stores in Madhya Pradesh, 3 stores in Jharkhand, 10 stores in Bihar, 1 store in Tripura, and 2 stores in New Delhi.
SNV Shoppee curates exclusive designs for its customers in three major categories, men’s wear, ladies’ wear, kids’ wear, accessories, etc. ranging from sophisticated office wear to everyday necessities, from versatile ethnics to comfy loungewear to a stunning new line of athleisure wear, etc.
More Group has 3 manufacturing units located in West Bengal with in-house designers.
Alok Kumar More, Chairman, Sanvie Retail Pvt Ltd, stated, “It was my dream to make people wear their choice of good quality cloth or so-called branded cloth at affordable pricing. I always wanted to bridge the gap between Yearning and Capacity for the mid & low-income segment. Thus, we decided to foray into the organised retail business under the brand name SNV Shoppee across key cities of India. We have a robust plan in place to further expand our reach across the country.”
1 comment
How can we sell our products in SNV outlets