New Delhi, Dec. 18 -- More than a decade ago, this was a small, largely overlooked retail chain with a limited footprint. Its stores were concentrated in smaller towns, markets where a large share of India's population lives and spends, but organized retail penetration remained low. Its focus from the start was straightforward: offer affordable, fashionable apparel to value-conscious consumers across tier-II, tier-III, and smaller cities.

As consumption in these markets picked up, the company scaled up in a measured manner. Store additions became the primary growth lever, supported by steady sales growth from existing locations. This combination of expansion and execution gradually translated into consistent financial improvement.

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