The Hindu Business Line : Popley may expand retail brands

The Mumbai-based Rs 450-crore Popley Group, doing business in gems and jewellery, premium watches and luxury accessories, is considering to expand its high-end retail formats — Popley La Classique and Diatime.

Popley La Classique outlets showcase only luxury retail (all items priced above $1,000), which include branded jewellery, premium watches, high-end cell phones and personal accessories.

The group is planning to increase the number of La Classique boutiques from 2 to 7 in a year's time.

Diatime, as a specialised format, has about six point-of-sales currently.

The format keeps semi-luxury products priced below $1,000. This is arranged in a shop-in-shop format, as anchors to retail chains like Shoppers' Stop, Pantaloon Retail, Globus, Nirmal Lifestyle and Trent. The group will have 14 more sales outlets by 2008.

"Our forte is in keeping a good blend of luxury and semi-luxury products at our boutiques. Even though, we have got a good line-up of branded personal accessories, our focus is still on jewellery. Almost 85 per cent of our net revenue comes from the sale of jewels. We will soon tie-up with an Italian jewellery retailer for housing their brands in our outlets," said Mr Rajiv L. Popley, Director, Popley Group.

Uniquely Positioned

The group also owns the largest number of `single brand boutiques' for premium wristwatches.

Speaking about competition and business strategy, Mr Popley said: "We are positioned uniquely in the market. Unlike other gems and jewellery manufacturers, who are plain suppliers to big retail chains, we have our formats, brands and boutiques. Being in direct retail, we have a clear edge over other gems and jewellery manufacturers," Mr Popley said.

"The basic idea is to create an international jewellery and personal accessories brand. Our first `Popley' boutique would be opened at Bond Street, London," said Mr Popley.

The group is also planning to float a public issue in the future.

More Stories on : Retailing | IPOs | Gems & Jewellery

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