It’s very interesting Idea, it’s worth looking.
Star Bazaar doing lots of changes since last 3-6 Months to attract footfall and maximise store sells, there is huge scope for the improvements.
One shall look at the Co as Premium Fashion Retailer. Brand conciseness is increasing rapidly with Indians specially affluent Young Indians.
Believe Great scope for Scalability.
Zara, West Side both doing well.
I believe it’s worth looking at, here one may give weightage to future potential than Valuations.