Prince Gold and Diamonds India Pvt Ltd plans to strengthen its presence in Tamil Nadu, Kerala and Karnataka.
On the completion of its first year of operation in Coimbatore, Joseph Prince, Director, said the jewellery house is looking to add three-four showrooms to its network every year. It has seven outlets at present with a showroom each in Thiruvananthapuram, Bengaluru and Coimbatore and four in Chennai.
“Competition is stiff, but the retail growth has been good. We have been growing at 10-12 per cent year-on-year. With a sharp increase in consumer spend, investment in gold is becoming an attractive proposition. But consumption of the yellow metal is more outside the country than within, particularly among the Indian Diaspora,” he said.
Exports account for 20-25 per cent of its turnover. The company achieved total sales of ₹750 crore in 2016-17, he said.
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