The Hindu Business Line : Khazana proposes major retail push; eyes overseas centres

GLITTERING LAUNCH: An employee of Khazana Jewellery poses with an exclusive collection during a launch in Hyderabad on Monday. The Chennai-based company has opened a retail outlet in Hyderabad. - A. Roy Chowdhury

Hyderabad , Sept. 6

KHAZANA Jewellery, the Chennai-based designer jeweller, has announced plans for a major retail push that would see the promoters roll out about 15 outlets across the country and foray into overseas markets over the next 24 months.

Launching its third retail outlet and the first outside Chennai, the Managing Director of Khazana, Mr Kishore Jain, and senior representatives of Khazana, said, "We are bullish on the jewellery industry and plan to expand their retail reach across the country beginning with Hyderabad. New centres planned include Vizag and Vijayawada in Andhra Pradesh, Bangalore, Mumbai, New Delhi and Kolkata. Plans are underway to build on the Khazana brand and foray into overseas markets such as Bangladesh, Sri Lanka, Singapore and few other centres."

"India has emerged as one of the largest markets for jewellery, which is estimated at about Rs 50,000 crore a year .

This is significantly driven by middle class and upper class buyers in the country.

It is this set of growing number of people across cities like Hyderabad, who are looking at shopping in places, where informed and well-groomed executives help them decide on choice of their jewellery," Mr Jain explained.

In the very first year of operation in Hyderabad, Khazana plans to achieve a turnover of about Rs 50 crore, and Rs 100 crore in three years.

While the company did not disclose the current revenues, they claimed that it expects to garner overall revenues of Rs 1000 crore in about 3-4 years.

Mr Jain said: "With over a decade's experience in retailing and close to three decades in jewellery industry, our core team at Khazana Jewellery brings skills, craftsmanship and creativeness, clubbed with state of the art technology to bring best design collections.

"Hyderabad is known for truly breathtaking quality and craftsmanship and has emerged as one of the cosmopolitan cities where people have a passion for shopping. Therefore, Hyderabad has become first centre outside Chennai. Khazana has created a 3000 square feet (sq. ft.) of retail space with an additional 3,000 sq. ft. of back office."

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