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Our Bureau

New Delhi, Aug. 5 Thailand company Pranda Jewellery is foraying into retailing in India. The company, which has introduced 99.9 per cent pure gold jewellery, said it will be investing Rs 100 crore towards retail expansion in the country.

The $150-million jewellery manufacturing company has teamed up with Gunjan Jewels of Mumbai to float a 51:49 joint venture Pranda Jewellery Pvt Ltd to market imported jewellery.

“India is one of the largest consumers of yellow gold in the world. We believe that the size of the gems and jewellery market in India will increase from $17 billion to $30 billion by 2015. Hence, it is an ideal plank for us to grow,” said Mr Prida Tiasuwan, Chairman, Pranda Jewellery.

The company will market its products through a network of jewellers initially. “We will open shop-in-shops at major gold retail outlets across the country. Besides, we will also be setting up 50 standalone shops,” he added.

When asked if it was considering setting up a manufacturing unit in India, Mr Tiasuwan said it may consider it as the market evolves. Currently, the company will be importing the jewellery from Thailand.

The jewellery range is targeted at middle and upper middle class and rich fashion-conscious buyers.

Mr Tiasuwan said Pranda will also launch its Cai range of silver jewellery in India soon.

It has also introduced Prima Art, a premier 24 karat handcrafted gold sheet art work, designed in devotional and lifestyle series for the Indian market.

More Stories on : Outlook | Gems & Jewellery

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