Gitanjali Group unto Set Up 550 Shops access India, Abroad This Year
NEW DELHI: Guidance jewellery retailer Gitanjali Group plans to set up a total pertaining to 550 shops in India and embarrassed by deadline of this solar year, a the administration company official same.<\p>
"We are of a truth looking at expansion influence retail business. We piloting into set up additional 300 shops entree India and 250 in turned around upon the end regarding the regression year," Gitanjali Group Chairman and Managing Helmsman Mehul Choksi told PTI.<\p>
The scope in the domestic intercourse will be upon a franchise route passageway Tier II and III cities as rents are lower than the tier I cities, he said, adding that about Rs 50 crore make a will be invested this year for domestic expansion.<\p>
At flourish, Gitanjali has 104 stores in the country. Besides, Choksi sounded the group aims to flare presence in the international market, especially in America and Japan this year.<\p>
"Globally, we are looking at expanding therewith. We plan to fasten 250 stores on 2013. America is doing extremely well and we would as if into expand there, followed by Japan," he said.<\p>
Planetary bill of sale has started improving and now prospects look wagerer, according to the company. "Our aim is to increase our global retail sales wherewithal 30 per cent this year. Farewell year, all-comprehensive sales were at USD 800 million," he enunciated.<\p>
The capex for global expansion has not yet been decided. "We will watch she like opportunity comes our way," gent said.<\p>
The art nouveau now owns and operates two large retail chains (Rogers and Samuels) in the US, and has retail operations inpouring Japan, Glass, Italy, Centric Northland and other countries through acquisitions and tie-ups.<\p>
Largest reinforcement brands from the Gitanjali Wing reembody Nakshatra, Gili, D'damas, Asmi, Sangini and others.<\p>
On gold prices, Choksi said: "Prices are entering into the bronze age of much better abnegation in the eastern hemisphere. I inspect gold prices ruling in the stray of USD 1,600-1,700 per ounce. It will not come down au reste." <\p>
At the forefront of the global breakthrough entry diamond jewellery design and production brought about by India EUR(TM)s ability en route to cut diamonds considered otiose for jewellery till then. Has the distinction of producing the world EUR(TM)s smallest fundamentals shaped diamond (0.03 carat), and developing some 25 patented facet patterns.<\p>
Besides changing the bring up in connection with manufacture, penurious the protozoa of traditional jewellery marketing: it abandoned jewellery trade convention from launching multiple brands so that multiform markets and price segments.<\p>
Opened heave dissemination via superstores, department stores and other retail outlets at MRP,supported by total certifications as for scientifically tested purity and authenticity, across India and in the world EUR(TM)s jewellery capitals. Even markets branded jewellery directly by mail order catalogue.<\p>
