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Loot Retail wins TATA NEN Hottest Start-up Award
03 Mar '09
3 min read
The Loot is a true-blue example of entrepreneurship. When it was started, it neither received any financial support from any funds, nor any supply support from the brands it sold nor did it get industry recognition.
After four years of surviving the highs and the lows of the sector, the Loot has created a bench mark for itself. Recognizing this very effort, the company bagged 4 prestigious industry awards at the beginning of the year:
• "Star Entrepreneur Award" at the International India Innovation Summit that recognized the Loot for its extraordinary entrepreneurship effort.
• Critics Choice Award for "Pioneering efforts in retail concept creation" at the 9th Edition of the India Fashion Forum 2009
• Young Retail Achiever Of The Year Award At The Reid & Taylor Awards For Retail Excellence
• "Star Youth achiever Award" at The Global Youth Marketing Forum for this good work and great contribution to the retail industry.
To top it all up, Mr. Jay Gupta recently won the “TATA NEN Hottest Start up award”, making the Loot the most sought after multi brand store.
On winning these prominent awards, Mr. Jay Gupta mentioned “It feels great to know that there are people in the industry who recognize hard work and sincerity. All these awards not only motivate us to work harder, but also let us know that we are moving in the right direction”.
The Loot is a business model that was initiated by Mr. Jay Gupta MD The Loot, the company has not only defined new heights in the retail sector but has also changed the perception of discount stores across the country.
This multi brand store not only houses great big brands, but also offers a discount band of minimum 25% to a maximum of 60% off throughout the year.
Today the Loot has grown against all odds. From a single store to over 91 of them today and fast racing to 100; from just retailing 8 brands to today stocking over 100 international and domestic brands including Levis, Reebok, Nike, Bossini, adidas, Arrow, Park Avenue, Van Heusen, Puma and many others.
The Loot has been catering to the needs of the middle income Indian consumer for over four years now, its customers today are a loyal and committed lot with over 70% being repeat customers and averaging between 16-35 years of age.
What makes the Loot interesting and worth watching is that in a recession afflicted economy, the urge and demand from the consumer to get greater value for money is very high. With 'Highest Quality at the Lowest Price' being its fundamental proposition, the Loot could well be one of the few businesses that are not just recession proof, but actually recession friendly!
After four years of surviving the highs and the lows of the sector, the Loot has created a bench mark for itself. Recognizing this very effort, the company bagged 4 prestigious industry awards at the beginning of the year:
• "Star Entrepreneur Award" at the International India Innovation Summit that recognized the Loot for its extraordinary entrepreneurship effort.
• Critics Choice Award for "Pioneering efforts in retail concept creation" at the 9th Edition of the India Fashion Forum 2009
• Young Retail Achiever Of The Year Award At The Reid & Taylor Awards For Retail Excellence
• "Star Youth achiever Award" at The Global Youth Marketing Forum for this good work and great contribution to the retail industry.
To top it all up, Mr. Jay Gupta recently won the “TATA NEN Hottest Start up award”, making the Loot the most sought after multi brand store.
On winning these prominent awards, Mr. Jay Gupta mentioned “It feels great to know that there are people in the industry who recognize hard work and sincerity. All these awards not only motivate us to work harder, but also let us know that we are moving in the right direction”.
The Loot is a business model that was initiated by Mr. Jay Gupta MD The Loot, the company has not only defined new heights in the retail sector but has also changed the perception of discount stores across the country.
This multi brand store not only houses great big brands, but also offers a discount band of minimum 25% to a maximum of 60% off throughout the year.
Today the Loot has grown against all odds. From a single store to over 91 of them today and fast racing to 100; from just retailing 8 brands to today stocking over 100 international and domestic brands including Levis, Reebok, Nike, Bossini, adidas, Arrow, Park Avenue, Van Heusen, Puma and many others.
The Loot has been catering to the needs of the middle income Indian consumer for over four years now, its customers today are a loyal and committed lot with over 70% being repeat customers and averaging between 16-35 years of age.
What makes the Loot interesting and worth watching is that in a recession afflicted economy, the urge and demand from the consumer to get greater value for money is very high. With 'Highest Quality at the Lowest Price' being its fundamental proposition, the Loot could well be one of the few businesses that are not just recession proof, but actually recession friendly!
The Loot
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