BAAZAR STYLE RE­TAIL PVT. LTD.

Images Retail - - MARKET DYNAMICS -

Baazar Style Re­tail Pvt. Ltd. op­er­ates in the re­tail busi­ness seg­ment un­der the brand names Style Baazar and Ex­press Baazar. With an aim to solve is­sues faced by reg­u­lar shop­pers to get fash­ion­able and trendy clothes at af­ford­able prices, the first out­let came into ex­is­tence at Ber­ham­pore in West Ben­gal in

Septem­ber 2013.

Brand Value

“Be­ing one of the re­tail pi­o­neers with mul­ti­ple re­tail for­mats, we unite a di­verse com­mu­nity of In­dian buy­ers, sell­ers and busi­nesses. Cus­tomers walk into our stores and choose prod­ucts and ser­vices sup­plied by small, medium and large en­trepreneurs and man­u­fac­tur­ers across In­dia. Our sup­plies come from en­ter­prises from new cat­e­gories and our strat­egy is based on an un­der­stand­ing of the In­dian Con­sumers, the prod­ucts they want, cre­at­ing fresh em­ploy­ment, im­pact­ing liveli­hoods, em­pow­er­ing lo­cal com­mu­ni­ties and fos­ter­ing mu­tual growth,” says Shreyans Su­rana, Di­rec­tor, Baazar Style Re­tail Pvt. Ltd.

“Mod­ern Re­tail is in­tended to drive fresh de­mand and lever­age on that Baazar Style Re­tail Pvt. Ltd. wishes to make avail­able qual­ity prod­uct at the right price in ev­ery store. Our USP re­mains value for money for In­dian Cus­tomers. We have aligned our busi­ness prac­tices to the larger ob­jec­tive of be­ing a premier cat­a­lyst in In­dia’s con­sump­tion-led growth story,” he adds.

Mar­ket and Growth Rate

Cur­rently Style Bazaar has re­tail out­lets in Rourkela, An­gul, Dhenkanal, Balan­gir and Bar­garh. By the end of

FY 2019-2020, the brand is ex­pect­ing around 20 out­lets of Style Baazar in Odisha.

“The mar­ket is a huge po­ten­tial mar­ket for value seg­ment prod­ucts. More­over, 90 per­cent of the to­tal pop­u­la­tion in Odisha as­pire to buy value seg­ment prod­ucts thereby cre­at­ing a good mar­ket for them. Tier II & III cities in Odisha are wit­ness­ing a par­a­digm shift in con­sumer pref­er­ences and lifestyle. As a re­sult of which, a lot of re­tail chains are com­ing to Odisha from across In­dia giv­ing the buy­ers more op­tions. There­fore, be­ing a pi­o­neer in this seg­ment, the brand is plan­ning an ag­gres­sive ex­pan­sion in Odisha in near fu­ture,” says Su­rana.

Fash­ion Trends

There was a time when fash­ion items were be­ing pur­chased as and when re­quired. Now-a-days, fash­ion cloth­ing is more than a ba­sic need; it is a re­flec­tion of as­pi­ra­tion, per­son­al­ity, and one of the big­gest sta­tus sym­bols. With Odisha’s large young pop­u­la­tion and high do­mes­tic con­sump­tion, the trends for the sec­tor look favourable.

“We are a re­tail chain procur­ing gar­ments from across In­dia. We fol­low the lat­est trends in the mar­ket. We have a very strong ven­dor base which helps us in de­liv­er­ing prod­ucts to our cus­tomers. Re­spond­ing to the chang­ing needs and ex­pec­ta­tions of cus­tomers, pro­vid­ing smart shop­ping ex­pe­ri­ence with max­i­mum re­turn and value for money is our key strat­egy,” ex­plains Su­rana.

“We are tar­get­ing more of ru­ral ar­eas and rel­e­vant cus­tomers there, it pro­vides a lot of scope of ex­pan­sion in the fu­ture as a wide area is yet to be dis­cov­ered. Hence, we have a greater scope of ex­pan­sion than big­ger brands, as we are iden­ti­fy­ing new ar­eas with de­cent pur­chas­ing power,” he con­cludes.

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