More Group Forays into Retail Business
News Desk, News Nation 360 : Kolkata based More Group an Rs. 1000 Crore conglomerate has forayed into retail business for apparels with the launch of ‘SNV Shoppee’, (pronounced as Sanvie Shoppee) an organized 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 new entity. The company is initially coming up with 75 shopping outlets across various states of the country. Varun More, Managing Director, Sanvie Retail Pvt. Ltd. said that they are launching SNV Shoppee, in almost all strategic locations of West Bengal, Odisha, Assam, Uttar Pradesh, Madhya Pradesh, Jharkhand, Bihar, Tripura and New Delhi mostly into Tier II and Tier III cities to cater to the larger mass. They further plan to launch 7 more stores by the end of current financial year and 50 more stores by the next year where they would make their presence felt in the other markets. They aim to create a pool of job opportunities across various sectors in their establishment. Presently their 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 the internal accruals of the group. Alok Kumar More, Chairman, Sanvie Retail Pvt. Ltd. in the presence of Anand Kumar More, Joint Chairman, Sanvie Retail Pvt Ltd and Varun More, Managing Director, Sanvie Retail Pvt. Ltd. while unveiling the logo of the brand, shared the Group’s vision and plans for the current fiscal. The main objective of SNV Shoppee is to bridge the economic gap by making high-quality apparel that is affordable for its 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. The styles introduced are in tune with the latest fashion trends and consumer demands.
Pic : Courtesy
Report : Anustup Kundu