Rise & Fall of SUBHIKSHA Full
Subhiksha which has a pioneering strategy and providing new definitions to the selling ventured in to the Indian price tag industry. Seeing that, their precursors are already existed and doing well in the market, that were there to come up with an innovative approach to compete with them. They have made an extensive research upon customer habit and found that offering the branded goods at a lower price than their competition could make them stand in the competitive retail industry.
In the year 1997, Subhiksha opened its initial store by Thiruvanmiyoor in Chennai with an investment of around Rs 4-5 lakh, with the theme, вЂќ why pay more when you are able get it available at SubhikshaвЂќ
The expansion in the stores
By March 1999, Subhiksha started out expanding speedily. From 18 stores, it was expanded to 50 retailers by June 2000. In the next two years, completely 120-130 retailers across Tamilnadu. They decided to look at all of India which is drastically literate which is a significant intake market. Phone system companies are their job model. They employed in a position regional managers and extended. In 2004-05, they decided to have 420 stores in places just like Gujarat, Delhi, Mumbai, Andhra and Karnataka by 2006.
The triumphant trip of Subhiksha
Until small over two years ago, Subhiksha was only a local participant with one hundred and fifty stores (September 2006) functioning mainly in Tamilnadu. The retailer started growing quickly outside the condition, soon after infusion of private value capital simply by I-venture, the venture capital equip of ICICI. I-Venture took 24 per cent stake inside the company's equity, which until then was primarily kept by Subramanian and his acquaintances. Riding around the back of quick expansion, Subhiksha's turnover grew from Rs 330 crore in 2005-06 to Rs 833 crore in 2006-07, and then to Rs two, 305 crore in 2007-08 (year closing March 31, 2008). Furthermore, having produced from one hundred and fifty stores in September, 06\ in Tamilnadu to 1, 600-odd stores around the world in...