New Delhi, April 2 SHR Lifestyles, which operates the ethnic wear brand SHREE, plans to more than double its retail network to around 300 stores over the next three years, as part of its pan-India expansion strategy.
The company is also aiming for a multi-fold revenue growth to Rs 900 crore by 2030, up from the current Rs 150 crore, driven by expansion in the retail network, according to a statement from SHR Lifestyles.
As part of its retail strategy, the company also has a presence in international markets with stores in Dubai, Abu Dhabi, Riyadh, and Sharjah – and will shift its focus towards large-format retail formats in high-growth domestic markets.
"As part of this expansion, SHREE will increasingly focus on large-format stores ranging between 3,000–5,000 sq ft across major cities and high-growth areas," it said.
Launched in 2009, SHR Lifestyles’ brand SHREE focuses on affordable price points, targeting modern consumers with items for work and special occasions.