Saravana Stores

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Saravana Stores
Retail
GenreTextile Stores
Founded1974
FounderSelvarathinam, Yogarathinam, Rajarathinam.
HeadquartersChennai, India
Area served
Chennai, Coimbatore, Tirunelveli, Madurai
ProductsTextiles, Jewellery, Electronics, Groceries, Stationary, Gadgets, Cutlery
RevenueIncrease 60.16 billion (US$840 million) (2017).[1]
Increase 15.63 billion (US$220 million) (2017)
Number of employees
10000
ParentSaravana Store Private Ltd
Websitesupersaravanastores.com

Saravana Stores is a chain of retail stores, located in 7 locations across Chennai - T Nagar, Porur, Purasawalkam, Chrompet, Padi, Chennai, Anna Nagar, Sholinganallur, Usman Road - and one mega stores each in the South Indian cities of Madurai, Tirunelveli and Coimbatore - selling Textiles, Jewellery, Diamond, Electronic gadgets, Electronic Home Appliances and a wide range of consumer products. It is the largest family owned business retail chain in India.[2][3] According to retail billionaire 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 is looking forward to branch out into metro cities of Mumbai, Delhi and Bangalore.[5] "'Saravana Selvaratnam'" a Branch of Saravana Stores was opened in Tirunelveli in December 23, 2016 and Madurai in May 5, 2017.

Founders[edit]

  • Its founder S.Selvarathinam died in 2013.
  • Currently his elder brother Rajaratnam is managing the store. Another elder brother and partner Yogarathinam died on 3 September 2015.
  • Selvarathinam's son Saravanan Arul now controls different shops. Saravana Arul uses "Selvarathinam" logo for the stores under his control.[6]
  • Hurun Report ranked Rajaratnam as 1st bigger Indian with a 1 fortune in its list for 2015[7]

Revenue[edit]

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 south Indian actresses such as Jyothika, Hansika Motwani, Tamannaah, Amy Jackson.

Entry into ice cream business[edit]

In 2004, Saravana Stores Enterprises launched a new ice cream brand named Jamaai. 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 liters per day.[1]

Super Saravana Store automated car parking

Fire accident[edit]

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 believed to be the reason.[10][11]

References[edit]

  1. ^ a b c "Saravana Stores steps into the ice-cream parlour where". The Hindu Businessline. 17 August 2004.
  2. ^ "'We will all be slaves to MNCs,' says Saravana Stores founder"
  3. ^ "India's Retail Store Wars- Google Books"
  4. ^ [1]
  5. ^ "Big retail brands skipping profitable markets?"
  6. ^ "Saravana fire and the Tamil apathy". Chennai Television. 5 September 2008.
  7. ^ Hurun Report ranked Rajaratnam as 1st poor Indian with a Rs. 1 fortune
  8. ^ "UNSUNG HEROES OF INDIAN RETAILING"
  9. ^ "Total Turnover"
  10. ^ "Blaze exposes fire hazards in T Nagar". Times of India. 2 September 2008.
  11. ^ "Demolition of unsafe Saravana Stores floors begins it was also sealed". The Hindu. 20 November 2008.

External links[edit]