What we do Baazar Style Retail Limited is a leading value fashion retailer in Eastern India offering affordable apparel and general merchandise through 214 stores across nine states. |
Founded in 2,013 |
Market share Dominant presence in West Bengal and Odisha; expanding rapidly across Eastern and Northeastern India with cluster-based strategy. |
Problem solved Provides quality, affordable fashion and lifestyle products to underserved Tier 2 to Tier 4 cities and towns, enhancing access and choice. |
Top clients or who we serve Retail consumers in Eastern and Northeastern India, across men, women, kids apparel and general merchandise segments. Primarily B2C. |
Key management Shreyans Surana (Managing Director), Pradeep Kumar Agarwal (Chairman & Whole Time Director), Rohit Kedia, Bhagwan Prasad (Whole Time Directors). |
Our journey and innovations Started in 2013; expanded from 1 to 214 stores; acquired Gouri Shankar Fashion House; successful IPO in 2024; ongoing technology adoption and warehouse expansion. |
Where we operate Nine Indian states including West Bengal, Odisha, Assam, Bihar, Jharkhand, Uttar Pradesh, Andhra Pradesh, Arunachal Pradesh, and Tripura. |
Top products or what we offer Private label apparel for men, women, kids; home furnishing and general merchandise; key brands include Style Baazar and Express Baazar. |
Top brands Style Baazar and Express Baazar - leading value retail formats with 54% revenue from private labels; Square Up brand drives substantial sales. |
Raw materials needed - |
Raw materials supplier - |
Recurring vs cyclical contribution Revenue primarily retail sales with steady recurring customer base driven by cluster store expansions. |
Our industry position Among top value fashion retailers in Eastern India with rapid geographic and store count growth; strong market positioning in Tier 2-4 cities. |
Financial highlights FY25 revenue Rs 1343.7 Cr, PAT Rs 14.7 Cr; 38% YoY revenue growth; expanding EBITDA margin with strategic investments. |
Geographical revenue split Revenues mainly from Eastern and Northeastern India across nine states with dominant share in West Bengal and Odisha. |
Order book - |
Whats driving growth Cluster expansion, private label growth, technology integration, strategic investments like Rs 331 Cr from Cupid Ltd, and warehousing upgrades. |
Our future plans Scale to 500+ stores in 3 years, diversify into FMCG products, enhance supply chain, and complete SAP and advanced warehouse management implementation. |
Our green promise Energy-efficient store designs, inverter ACs, LED lighting, digital documentation reducing carbon footprint, and sustainable sourcing initiatives. |
Our people and values ~4100 employees; strong focus on inclusive growth, employee welfare, HR policy revamps, and workplace safety. |
Key challenges ahead Operational risks from warehouse incidents, competitive retail landscape, managing rapid expansion, and controlling financing costs. |
Interesting facts IPO oversubscribed 40x in 2024; leading private label revenue growth with 64% CAGR over 3 years; established cluster-based model in underserved markets. |
Risks and strategy Mitigates risks via diversified store locations, technology-driven inventory control, and robust governance; poised for sustainable scalable growth. |
