Kolkata-based Anjali Jewellers will invest ₹200 crore from internal accruals for store expansion and widening its online presence over the next few years.
Anargha Chowdhury, Director, Anjali Jewellers, said the company would spend over ₹100 crore to add six stores — four in Bengal and one each at Delhi and Guwahati — this calendar year.
Primarily a Bengal-based brand, it reported a turnover of ₹700 crore in FY17 and has 20-odd stores. Expansion into Delhi and Guwahati will mark its first steps towards a national foray. All stores are company-owned. Another ₹100 crore will be invested in marketing and expanding its online presence in the next four years in a phased manner.
“We are concentrating on strengthening our presence through our mobile app and are targeting a turnover of ₹250 crore from the online business by FY-22. In these four years, online sales are expected to be 7 per cent of our turnover,” he told reporters during a press conference.
The company launched a beta version of its mobile app two years ago.
Apart from regular print advertisements and TVC in regional languages, mostly Bengali, Anjali Jewellers is looking for tie-ups with multiplexes to air advertisements.
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