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Mumbai, Sept. 23

Shanti Gold, a major gold jewellery exporter, plans to improve the reach of its brand Utssav CZ Gold Jewels by increasing the retail outlet presence to 5,000 from 1,200 currently in 500 cities in two years. Mr Pankaj Jagawat, Managing Director, Shanti Gold, said the company will be investing Rs 80 crore in two years. “The gold jewellery markets in metros are overcrowded. Our focus will be more on tier-II and tier-III cities,” he added. Despite the financial cr isis in the international markets, the company plans to increase its export from Rs 5 crore to Rs 50 crore in two years. Agreeing the rise in gold prices is a cause for concern, Mr Jagawat said, “We will be churning out 200 new designs monthly and participate in 40 international exhibition to showcase them.” The company has a manufacturing unit with a capacity to produce jewels weighing 500 kg a month. All Utssav jewels are made of cubic zirconia, considered the cheapest alternative to diamonds.

— Our Bureau

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