Saravana Stores
 | |
| Retail | |
| Genre | Textile Stores |
| Founded | 1999 |
| Founders | YOGARATNAM & RAJARATNAM |
| Headquarters | Chennai, India |
Area served | Tamil Nadu (Chennai) |
| Products | selling textiles, jewellery, vessel |
| Revenue |
 ₹22.34 billion (US$330 million) (2012).[1] |
|
₹4.68 billion (US$70 million) (2012) | |
| Owner | Yogarathinam, Rajaratnam, Nila Selvan |
Number of employees | 9800 |
| Parent | Saravana Store Food Pvt Ltd |
| Website |
www |
Saravana Stores is a chain of retail stores, located in T Nagar, Purasaiwakkam, Chrompet and another one (The Legend Saravana Stores) inaugurated on 06 May 2016 in M.T.H Road, Padi, Chennai selling textiles, jewellery, vessels and a wide range of consumer products. It is the largest family owned business Retail chain in India.[2][3] According to Kishore Biyani of bigbazaar, it is India’s No 1 retail store in one locality.[4] The group has been growing rapidly over the past five-year and are likely to branch out to metro cities like Mumbai, Delhi and Bangalore, though the group is conservative in business.[5]
Founder
- Its founder Mr.Selavarathnam (Saravana Stores) died in 2003.
- Currently his elder brother Rajaratnam is managing the store. Another elder brother and partner Yogarathinam died on 3 September 2015.
- Mr.Selvarathinam Mr.Saravana Arul now controls different shops. Saravan Arul uses "Selvarathinam" logo for the stores under his control.[6]
- Hurun Report ranked Rajaratnam Nadar as 281st richest Indian with a ₹1,782 crore fortune in its list for 2015[7]
Revenue
In 2008, the company reported an annual turnover of about 6.50 billion rupees (200 million US dollars).[1][8][9] The store is being endorsed by actor Suriya.
Entry into ice cream business
In 2004, Saravana Stores Enterprises launched a new ice cream brand named Jamai. It is expected to be sold in 3000 outlets in Tamil Nadu and 1000 in Chennai alone. It has set up a 10000-liter per day ice cream production unit and expected to be expanded to 30000 litres per day.[1]
Fire accident
On 2 September 2008, a fire accident inside the building led to death of two of its employees and damages worth crores of rupees. Unauthorised construction and ignoring safety measures are claimed to be the reason.[10][11]
References
- 1 2 3 "Saravana Stores steps into the ice-cream parlour". The Hindu Businessline. 17 August 2004.
- ↑ "'We will all be slaves to MNCs,' says Saravana Stores founder"
- ↑ "India's Retail Store Wars- Google Books"
- ↑
- ↑ "Big retail brands skipping profitable markets?"
- ↑ "Saravana fire and the Tamil apathy". Chennai Television. 5 September 2008.
- ↑ Hurun Report ranked Rajaratnam Nadar as 281st richest Indian with a Rs. 1,782 crore fortune
- ↑ "UNSUNG HEROES OF INDIAN RETAILING"
- ↑ "Total Turnover"
- ↑ "Blaze exposes fire hazards in T Nagar". Times of India. 2 September 2008.
- ↑ "Demolition of unsafe Saravana Stores floors begins". The Hindu. 20 November 2008.
External links
- Stores website
- Retail:What's in store? India Today article