26 December 2022, Mumbai
Style Bazaar has opened stores across India. These include Orissa, Jharkhand, Assam, Uttar Pradesh and Andhra Pradesh.
The value and fashion retailer offers clothing, accessories, occasion wear, western and ethnic wear.
Style Bazaar plans to add around 100 new stores over the coming two to two and a half years. The business aims at Tier II and III cities for store expansion where it targets middle class shoppers. The average store size is 9000 sqft and Baazar Style is present in the value segment in east India. The larger vision is to become one of the country’s largest value retailers and the retailer is following a cluster-based approach in which it goes deep in almost all the districts of the states so as to have a better economy of scale and brand visibility.
Style Bazaar’s parent company Style Retail is preparing to launch an initial public offering which would value the business at Rs 2,500 crores. The business is expected to file its draft red herring prospectus in February 2023 and will use part of the money it will raise from the IPO to enable it to continue to expand its retail footprint across India.The business plans to use the funds from the IPO to expand its brick-and-mortar footprint across India.
Style Bazaar based in Kolkata was incorporated in 2013 and operates its retail business under the brand names Style Bazaar and Express Bazaar.
