Style Baazar is a well-known retail chain in India, founded by a group of visionary entrepreneurs who aimed to revolutionize fashion retail in the country. The key figures behind this venture include Pradeep Agarwal, Rohit Kedia, Bhagwan Prasad, Rajendra Gupta, Shreyans Surana, and Rajendra Surana. Among them, Shreyans Surana serves as the Managing Director, playing a critical role in shaping the company’s growth trajectory.
The Founders and Their Contributions
Each co-founder brought unique expertise to Style Baazar, ensuring its steady rise in the competitive fashion market:
- Pradeep Agarwal: As the Chairman and Executive Director, he has provided strategic leadership, guiding the company towards expansion and innovation.
- Rohit Kedia: In his role as an Executive Director, he has played a crucial part in operational efficiency and scaling the business.
- Bhagwan Prasad: Another Executive Director, he has contributed significantly to business development and strengthening market presence.
- Rajendra Gupta: His insights and leadership skills have been vital in setting up the company’s foundation and long-term vision.
- Shreyans Surana: An associate member of the Institute of Chartered Accountants of India (ICAI), Surana has been instrumental in financial planning, capital structuring, and administrative functions. His experience with Zedd Retails Private Limited and Shreyans Creation Global Limited has helped him bring valuable expertise to Style Baazar.
- Rajendra Surana: As a co-founder, he has played an integral role in establishing and expanding the business.
The Birth of Style Baazar
Style Baazar was officially launched on June 3, 2013, under the Companies Act of 1956. Headquartered in Kolkata, West Bengal, the company was established to provide stylish and affordable fashion for men, women, and children. The goal was to cater to suburban and semi-urban consumers who had limited access to quality fashion apparel at competitive prices.
Vision and Business Strategy
The brand was envisioned as a go-to destination for trendy yet budget-friendly fashion. The mission was to offer a diverse range of apparel and general merchandise while ensuring affordability and quality. Style Baazar strategically targeted emerging markets in tier-II and tier-III cities, addressing the growing demand for fashionable yet cost-effective clothing.
Growth and Market Expansion
Since its inception, Style Baazar has expanded exponentially, with over 200 stores across nine states in India. Its focus on contemporary fashion trends and affordability has earned it a strong reputation among consumers. By targeting underserved markets and maintaining an extensive product range, the brand has successfully captured a significant share of the retail industry.
Key Marketing Approaches
To engage customers effectively, Style Baazar has implemented various marketing strategies:
- Customer-Centric Showrooms: The retail spaces are designed for easy navigation, ensuring a seamless shopping experience.
- Loyalty Programs: Customers benefit from exclusive loyalty points, encouraging repeat visits and brand loyalty.
- Regional Marketing: Advertising campaigns are tailored to specific regions, often featuring local celebrities and using vernacular languages to connect with a diverse audience.
- Affordable Price Range: The store offers products starting from as low as Rs.49 to Rs.2999, including popular brands like Killer and Monte Carlo.
Future Goals and Expansion Plans
Looking ahead, Style Baazar has set ambitious goals to strengthen its market position and expand its reach across India. The company aims to surpass Rs.1000 crore in turnover within the next two years by significantly increasing its store count to 130. This expansion strategy is expected to boost revenue and enhance accessibility for consumers looking for affordable yet stylish fashion options.
Beyond the short-term targets, the company has outlined an aggressive five-year plan that envisions a network of 300 stores across multiple regions. This growth initiative is projected to generate a turnover of Rs.2500 crore, further solidifying Style Baazar’s position as a key player in the retail sector. By broadening its footprint, the company seeks to capture a larger share of the market, catering to both urban and semi-urban consumers.
A critical aspect of this expansion plan is the integration of advanced, technology-driven inventory management systems. These systems will streamline supply chain operations, ensuring efficient stock management and quicker response times to consumer demands. Additionally, the company remains committed to continuously updating its product offerings to reflect the latest fashion trends, keeping its customers engaged and satisfied.
Conclusion
Style Baazar’s remarkable growth is the result of the collective efforts of its six co-founders, with Shreyans Surana leading the way as Managing Director. Their strategic approach, innovative marketing, and commitment to quality have positioned the brand as a key player in India’s retail landscape. As the company continues to expand, it remains dedicated to making stylish and affordable fashion accessible to all.