The Hindu Business Line : Gitanjali ventures into exclusive retail; plans 60 stores

NEW DELHI: Jewellery and lifestyle brand Gitanjali Lifestyle on Friday said it has ventured into exclusive retail business and plans to open 60 stores across the country within the next five years.

The company today inaugurated the first stores of its retail chain 'Maya' here in the city, Gitanjali Lifestyle said in a statement.

“Gitanjali Lifestyle is looking at creating 60 stores in the next 5 years in cities such as Indore, Raipur and Guwahati,” Gitanjali Lifestyle Chief Executive Officer, Mr Devasish Dutta said. He, however, did not disclose the company's investment plans.

The company would open one more Maya store in Delhi, before venturing into the rest of the country.

“Gitanjali, being a successful jewellery retailer with national and international brands, is looking forward to extending its retail and marketing expertise to complement its product categories. With the launch of Maya, our aim is to be amongst the leadi ng players in the Indian retail space,” Mr Dutta said.

The company's stores will have various formats in size ranging from small stores of 500 sq ft to departmental stores of 25,000 sq ft.

“Besides these there are two malls of about 2 lakh sq ft each in the pipeline,” Mr Dutta added. - PTI

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