Metro Plus
Bangalore
Chennai
Hyderabad
Honour for city store
|
City-based Shree Krishna Collection wins CNBC's Emerging India Award
|
Imagine vying with 35,000 competitors from across the country and walking away with CNBC's Emerging India Award for "Best Entrepreneur in the Retail Trade." It's no mean achievement for the city-based Shree Krishna Collection that's come a long way since its 1,200 sq. ft. showroom (in Purasawalkam) days in 1989.
A visibly excited Praful Kumar Bisani, managing director, Shree Krishna Collection, the flagship company of LNB Textiles, said, "I guess we were chosen because we are first generation entrepreneurs and second, because of the percentage of growth registered in the past few years. Growth in sales has almost touched 80 per cent. And this, we were able to achieve because of a major expansion of retail space."
Giving details about the award, Bisani said, "Hundred stores were short listed, from which 25 were selected for the finals. Hour-long telephonic discussions with the jury were part of the selection process. The award for the retail trade category was powered by CRISIL and presented by ICICI."
Tracing the success of Shree Krishna Collection, Bisani, who is credited with beating the performance curves, said, "The switch-over from wholesale to retail wasn't easy. But I was determined. When we started retail in 1989, I understood that customers don't just come with a budget in mind. They also come with specific tastes. So retail success means providing quality merchandise, competitive pricing and variety."
Operating from three locations in Chennai and one in Coimbatore (totally 1.2 lakh sq. ft. retail space), Shree Krishna Collection "caters for the A+, A and B+ categories of customers. The range includes apparel for men, women and children — both branded and high-end ethnic creations, besides accessories. Clothing has come a long way from its `necessity' days. Now, customers see clothes as `fashion.' So we are looking at merchandise that's different from mainstream apparel stores."
Talking about competition, Bisani says, "We can't underestimate any market. I see every city/location as an opportunity. See how many clothes stores and jewellers are doing well in Pondy Bazaar. None has closed shop. Success lies in adapting to the new realities of the market. For today's customers, time is money. So to achieve a higher customer retention rate, it's important to offer the best in terms of quality and product range — for the whole family under one roof."
TKR
Printer friendly
page
Send this article to Friends by
E-Mail
Metro Plus
Bangalore
Chennai
Hyderabad
|
