More Group Forays into Retail Business With an Initial Investment Of Rs 150 Cr

Kolkata : Kolkata based More Group a Rs 1000 Crore conglomerate has forayed into retail business for apparel with the launch of ‘SNV Shoppee’, (pronounced as Sanvie Shoppee) an organized value retail chain of stores.
SNV Shoppee will operate under the newly formed company Sanvie Retail Pvt. Ltd. More Group is investing Rs 150 crore in the first phase of the launch of the new entity. The company is coming up with 75 shopping outlets across various states of the country as of today.

Alok Kumar More, Chairman, Sanvie Retail Pvt. Ltd. in the presence of Anand Kumar More, Joint Chairman, Sanvie Retail Pvt Ltd and Varun More, Managing Director, Sanvie Retail Pvt. Ltd. while unveiling the logo of the brand, shared the Group’s vision and future plans for the current fiscal.

The main objective of SNV Shoppee is to bridge the economic gap by making high-quality apparel that is affordable for our target consumers. Special emphasis has been given to the quality of the products to guarantee utmost consumer satisfaction and they get a proper value for the cost. The styles introduced are in tune with the latest fashion trends and consumer demands.

“We are launching SNV Shoppee, in almost all strategic locations of West Bengal, Odisha, Assam, Uttar Pradesh, Madhya Pradesh, Jharkhand, Bihar, Tripura and New Delhi mostly into Tier II and Tier III cities to cater to the larger mass. We further plan to launch 7 more stores by the end of the current financial year and 50 more stores by the next year where we would make our presence felt in the other markets. We aim to create a pool of job opportunities across various sectors in our establishment. Presently our workforce consists of 1500 plus heads would be recruiting at least 400-500 more people in the coming months. The entire funding has been done through internal accruals of the group, said Varun More, Managing Director, Sanvie Retail Pvt. Ltd.

At present, there are 21 stores in West Bengal, 14 stores in Odisha, 5 stores in Assam, 17 stores in Uttar Pradesh, 2 stores in Madhya Pradesh, 3 stores in Jharkhand, 10 stores in Bihar, 1 store in Tripura and 2 stores in New Delhi.

SNV Shoppee curates exclusive designs for its customers in three major categories – Men’s wear, Ladies wear, Kids wear, Accessories etc. ranging from sophisticated office wear to everyday necessities, from versatile ethnics to comfy loungewear to a stunning new line of athleisure wear etc. Sanvie Retail Pvt. Ltd. aims to make India fashionable without burning a hole in the customer’s pocket. SNV Shoppee will also offer a line of non-apparel accessories where it is a wide range of stationery products and home décor. More Group has 3 manufacturing units located in West Bengal with in-house designers working passionately in creating fashion products.

“It was my dream to make people wear their choice of good quality cloth or so-called branded cloth at affordable pricing. I always wanted to bridge the gap between Yearning and Capacity for the mid & low-income segment. Thus, we decided to foray into the organized retail business under the brand name SNV Shoppee across key cities of India. We have a robust plan in place to further expand our reach across the country”, said Alok Kumar More, Chairman, Sanvie Retail Pvt Ltd.

SNV Shoppee is a one-stop destination that strives to offer customers a wide range of products at an affordable price, all under one roof. With the goal of being an affordable store in the regions in which it operates, the company is planning to expand to newer locations in the years to come.