CHENNAI: Saravana Stores. Few names in Chennai, or even the state, are as instantly recognised. The brand has dominated the world of middle class shopping in Chennai for decades. S Yogaratnam, the eldest of the three founding brothers, passed away on Thursday.
The story of Yogaratnam’s life, fondly called Yogaratnam Annachi by the trade community that is awe-struck by both the man and his creation, is synonymous with the story of Saravana Stores.
Born in a farming family in Panika Nadar Kudiyiruppu, a small village in Thoothukudi, they were four brothers. Three of those four, S Yogaratnam, S Rajaratnam and S Selvaratnam, are widely hailed as the founders of the Saravana Stores brand and the ones who, in their lifetime, have propelled it to a multi-million dollar business edifice it is today.
But when Yogaratnam, the first to set out from his little hamlet to make his fortunes, arrived in Chennai, the store he opened bore no resemblance to its current avatar — not even in name.
In 1969, Yogaratnam seeded a small utensil shop called Shanmugam Stores, nestled in the then out of the way T Nagar. The reason was, the now famous Ranganathan Street was right in between a major thoroughfare and the Railway station.
“He began with a small shop. Selvaratnam, his youngest brother joined him soon. Rajaratnam, the second, was then in their hometown taking care of farming,” narrated A M Vikrama Raja, president, Tamil Nadu Vanigar Sangankalin Peramaippu.
But the small shop did not stay small for long. By 1977, Rajaratnam had joined his brothers and the business had grown in leaps and bounds. Paralleling the growth of the store, was the evolution of T Nagar, and Ranganathan Street in particular, as a shopping hub.
The brothers had even then caught on to the business idea that would propel their venture to the near cult status it holds now.
“They latched on to selling very affordable wares even then,” said Raja. All through the rise, the brothers diversified. First came the clothing wing. Then appliances. Soon, the store and the brothers had made the street they occupied, synonymous with their names. The rest, as they say, is history. Saravana Stores Group’s current avatar is a mind bogglingly wide complex of outlets selling everything under the sun — from toothpicks to diamond jewellery. It has over 60 stores across the state and its annual revenue is estimated at more than Rs 2,500 crore.
“All through their success Annachi remained the same. He was an incredibly humble man,” said Raja. Such was his vigour and interest in the business, say observers, that he would walk through the multi-storey edifice that houses the chain’s largest store in Chennai every day without even once taking the lift. A practice that continued, even after the business was taken over by the family’s next generation, until he took ill. Yogaratnam was 76 when he passed away on Thursday and of the three brothers who began the journey, only Rajaratnam remains. And of course, so does Saravana Stores.
On behalf of the State government, tourism minister SP Shanmuganathan paid respects and consoled the family members.