Business Daily from THE HINDU group of publications
Friday, Nov 23, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Nov 23, 2007 ePaper | Mobile/PDA Version |
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Marketing
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Strategy Rajesh Exports to launch jewellery chain stores Our Bureau Bangalore, Nov. 22 Jewellery manufacturer Rajesh Exports is all set to launch its Shubh Jewellers chain of stores in the South. Under this Rs 350-crore venture, the company is acquiring local jewellery shops to organise the local jewellery market. While Rajesh Exports will provide the inventory, the shops will continue to be run by the local jewellers with his staff. Shubh Jewellers is targeted at the mass market. The first Shubh Jewellers store will come up in Bangalore in the first week of December. “We will be launching 4-10 stores every week. The target is to have 100 Shubh stores by March-April 2008 in South India,” said Mr Rajesh Mehta, Chairman, Rajesh Exports. The company may look at North India after the roll-out in the South. Laabh storesRajesh Exports’ other retail venture Laabh Jewellers offers high-end designs and is pitted against the likes of Tanishq. There are around 30 Laabh stores in the country currently. Both Shubh and Laabh are together expected to bring in retail revenues worth Rs 200 crore this year. Next year (2008-09), it is eyeing revenues worth Rs 1,000 crore on the back of a retail expansion plan. The company is also looking to take its retail stores abroad. But this could take at least one-and-a-half years, said Mr Mehta. Reacting to reports of shedding stake, Mr Mehta ruled out any stake dilution in the company. More Stories on : Strategy | Gems & Jewellery
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