1.Company Information
Incorporated in June 2013, Bazaar Style Retail Limited is a fashion retailer operating in West Bengal and Odisha. The company offers apparel for men, women, boys, girls, and infants and general merchandise such as non-apparels and home furnishing products.
The company focuses on providing a family-oriented shopping experience, offering quality products and striving to offer every Indian stylish merchandise at an affordable price.
As of March 31, 2024, the stores averaged 9,046 square feet and were staffed by trained employees to enhance customer experience.
The company operates in Odisha, Bihar, Assam, Jharkhand, Andhra Pradesh, Uttar Pradesh, Tripura, and Chhattisgarh.
As of March 31, 2024, the company has expanded across 9 states and operates 162 stores.
As of March 31, 2024, The company had an in-house marketing team consisting of 13 personnel.
The company has a strong designing and merchandising team of 57 personnel who have experience understanding and sensing the regional preferences of its target customers. They work to provide the customers with the latest market trends through their experience in the retail and textile industries.
2. Objects of the Issue
1. One of the fastest growing value retailer in eastern India with market leadershipin West Bengal and Odisha: We were the fastest growing value retailer during the period 2017 to 2023when compared to Listed Value Retailers, in terms of store count,registering a CAGR of 42%, as per Technopak Report and have expanded across nine states and operating 153 stores as of December 31, 2023. During the same period, we were also the fastest growing value retailer in terms of revenue from operations registering aCAGR of 27.8% when compared to that of the Listed Value Retailers. (Source: The Technopak Report)We believe that our business model which is based on cluster-based expansion, high street stores, variety of quality merchandise, deep penetration in our Core Markets, comprehensive product assortment and strategic selection of locations for our stores has led to our rapid growth and has paved way for us to expand our presence in Eastern India, which is the fastest growing region for value retail (lifestyle and home)
2. Accelerated store expansion through a cluster-based approach: Our store count has grown from 2 stores since our incorporation in Fiscal 2014 to 135 stores as of Fiscal 2023 signifying a CAGR of 59.68%. We believe that our strength lies in understanding and responding to changing customer preferences and offering affordable products to our customers with a wide assortment of products.
3. Strong understanding of customer preferences to offer a comprehensive, targeted and affordable product mix along with our private label brands leading to customer loyalty: Our product portfolio includes both apparels and general merchandise including cosmetics and imitation jewellery, consumer appliances, houseware products and bags, as highlighted below. Our portfolio of apparels includes shirts, t-shirts, trousers, sarees,sports and active wear, winter wear, night wear, western ware, ethnic wear and accessories catering to the needs of men, women, children, and youngsters. We believe that our deep knowledge of clusters has enabled us to customize our product assortment as per the local needs and respond to changing customer preferences and market demands, owing to which our Average Transaction Value for Fiscal 2023 being ₹1,041, is the highest when compared to that of the Listed Value Retailers.
3. Baazar Style Retail IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: baazarstyle.ipo@jmfl.com
Website:https://linkintime.co.in/initial_offer/public-issues.html