Sri Palam Silk Sarees, started by the daughter of Nalli Kuppuswami Chetti Jayashree, is planning to double its turnover to around Rs 100 crore over the next three years.
After unveiling UltraLite Fusion Silk sarees in Chennai on Monday, Jayashree Ravi, proprietor Sri Palam Silks, said that the company had clocked a turnover of around Rs 50 crore last year and was planning to double it over the next three years.
The company, started in 2003, focuses on younger generation. Besides laying thrust on a myriad range of wedding silk sarees, Palam has been introducing a series of concept sarees over the past few years.
Commenting on the launch, Jayasree said, “The UltraLite Fusion Silk is our endeavour to encourage women to wear sarees year-long. Most women avoid wearing sarees in the summers due to weight and overall cumbersomeness. The UltraLite Fusion Silk range starts from Rs 4,500.
At present, the company has four shops – three in Chennai and one in Coimbatore. It is planning to open one each in Bangalore and Hyderabad. “We want to establish three stores every year with focus on the small retail format,” she said.
