Institutionalised both merchanding and sales process
Hyderabad, January 29, 2024: – Sai Silks Kalamandir Ltd. (SSKL) is making waves in the ethnic apparel retail industry with its bold move towards institutionalizing merchandising and sales processes. Through a strategic blend of digitization, the addition of 100 merchandising experts, and the development of in-house IT solutions, SSKL has unveiled a game-changing internal Enterprise Resource Planning (ERP) system, capturing 25 nuanced aspects of each saree, from design intricacies to color schemes and acquisition details.
Renowned for its traditional yet diverse collection of ethnic wear, SSKL recently celebrated a remarkable debut on the stock exchanges and proudly inaugurated its 58th store, marking a period of extraordinary growth and expansion. The company’s commitment to excellence is underscored by its plan to open 10 stores annually, adding nearly 26 stores in the next two years, with four stores already operational post-IPO, taking the total to 84 stores.
The technology-driven approach adopted by SSKL has enabled the swift identification of fast and slow-moving stock, allowing for efficient inter-store stock transfers tailored to localized preferences. This optimization not only enhances throughput but also elevates customer satisfaction by aligning inventory with the unique tastes and preferences of each location.
What sets SSKL apart is the groundbreaking ERP system that goes beyond traditional inventory management. With a meticulous focus on 25 aspects of each saree, the system provides invaluable insights into merchandising, facilitating precise analysis within the purchase department. Leveraging artificial intelligence (AI) for analytics, the system ensures stock efficiency, setting a new benchmark in the industry.
Prasad Chalavadi, Managing Director of SSKL said, “The technology deployed now is custom made, tailored based on the requirements of the business on the supply side as well as on the sale side. We have built custom reporting layers to fetch data whenever we need and however we need to run the reports effectively.
This integration of systems has empowered us with regular dashboard analysis, allowing us to make informed decisions and strategically drive the company forward.”
Beyond internal processes, the technology-driven inventory management system is poised to transform the industry landscape. As SSKL strengthens its e-commerce presence and expands into new geographies, the company stands at the forefront of innovation in the dynamic world of ethnic apparel retail.
About SSKL:
SSKL operates through four different format stores, namely Kalamandir, Mandir, Varamahalakshmi Silks, and KLM Fashion Mall, as well as through e-commerce channels that include their own websites and other online e-commerce marketplaces.
The diverse range of products offered includes (i) various types of ultra-premium and premium sarees suitable for weddings, party wear, as well as occasional and daily wear; (ii) lehengas; (iii) men’s ethnic wear; (iv) children’s ethnic wear and (v) value fashion products comprising fusion wear and western wear for women, men, and children.
The company has declared Rs. 1351 crore in sales and PAT of Rs. 97.60 crore in FY23 and per sft realisation is Rs. 22,397. SSKL is the first large saree retailer to tap the markets to raise funds through an IPO and it has grown from a single store in 2005 to 58 stores with a total floor area of more than 6 lakh square feet.
