Sri Palam Silk Sarees is planning to increase its turnover by almost two-fold to about one billion rupees over the next three years.
Jayashree Ravi, daughter of Nalli Kuppuswami Chetti Jayashree who started the firm in 2003, said the company achieved a turnover of Rs. 500 million last year, which it plans to double by 2015.
Speaking after unveiling the UltraLite Fusion Silk Sarees in Chennai, she said young generation remains the focus group for the company. While emphasizing on numerous varieties of wedding silk sarees, Sri Palam has also been launching a range of concept sarees over the past few years.
Talking about the new launch, Ms. Ravi said launch of the UltraLite Fusion Silk is their effort to encourage women to wear sarees all throughout the year.
Majority of women avoid wearing sarees during summers due to the weight of the saree and overall discomfort.
At present Sri Palam operates three retail stores in Chennai and one in Coimbatore. It now plans to launch one outlet each in Hyderabad and Bangalore.
Ms. Ravi said the company intends to launch three small retail format outlets each year.
Fibre2fashion News Desk - India