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Shankara Building to widen offering

Last Updated 17 December 2016, 18:00 IST

Bengaluru-based Shankara Building Products (Shankara BuildPro), one of the leading organised retailers of home improvement and building products, is planning to add more product categories and brands into its portfolio to widen its offering.

“We intend to add more product categories and more brands in existing product categories such as electricals and decorative paints,” Shankara BuildPro managing director Sukumar Srinivas told DH.

“We are also open to acquisitions, especially in the building materials segment, in order to add more brands,” Srinivas said, adding that the company has already made a couple of acquisitions in the past and those have been working well for the company.

In the past, the company has successfully added new brands and introduced new products. The company’s product offerings has grown from 7,401 stock keeping units (SKUs) in financial year 2014 to 12,568 SKUs in FY2016 and the number of third party brands has grown from 15 in FY12 to 46 in FY16.

Shankara BuildPro, which has already opened three new Shankara BuildPro stores in the current fiscal upto August 31, 2016, and as on September 24, 2016, operated 100 Shankara BuildPro stores spread across 10 states in India, is looking to expand its retail presence.

“We want to intensify our presence in South and West India by adding more stores,” Srinivas said, without specifying the number of stores that the company plans to add.

“Of our current turnover of Rs 2,000 crore, retail contributes around Rs 800 crore with 90% of our stores located in the South including Karnataka, Telangana, Kerala, TamilNadu and Andhra Pradesh,” Srinivas added.

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(Published 17 December 2016, 18:00 IST)

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