With its new brand Zecode, textile giant Siyaram’s has invested Rs 40 crore to enter the value retail market. According to Gaurav Poddar, ED of Siyaram’s, and Jayakar Shettigar, CEO of Zecode, the new brand, which targets Gen-Z customers, wants to capture market share in India’s growing value retail sector.
The company has built four stores in Bengaluru and offers 5,000 SKUs in ethnic and western fashion for ladies, men, and children.
“Since India is a youthful nation, the majority of its Gen-Z population spends the most money overall, which also holds true for clothing. We were not previously involved in this area of retail. We are aiming to attract Gen-Z consumers with contemporary, stylish clothing at reasonable costs through the fast fashion brand Zecode,” they stated.
Although its goal is to become an omnichannel brand, it is first focussing on its offline presence and will soon also increase its online presence.
The company intends to open 25 Zecode outlets throughout Karnataka by the end of this fiscal year. It plans to open two types of stores: one that is between 4,000 and 6,000 square feet, and another that is between 7,000 and 9,000 square feet.
