Arab Today, arab today jewellery chain gitanjali expands its outreach
Last Updated : GMT 08:46:38
Arab Today, arab today
Arab Today, arab today

Jewellery chain Gitanjali expands its outreach

Arab Today, arab today

Arab Today, arab today Jewellery chain Gitanjali expands its outreach

Dubai - Arabstoday

India’s largest diamond and jewellery retailer by sales, Gitanjali has ambitious plans to expand its business in the UAE, its chairman said. The Group will spend $50 million to build its retail as well as B2B presence in the next 18-months, Mehul Choksi, chairman and managing director of Gitanjali Group told Khaleej Times in an interview. “We plan to open ten more stores and 75 shop-in-shops in the UAE,” he said. One store under the Nakshtra brand was opened last week in Lamcy Plaza and the other one will be opened in Meena Bazaar, next week. In Abu Dhabi, “we will be starting with one shop within this year,” the chairman said. Over the next three years, Choksi plans to further expand Gitanjali brand in this booming market, where consumer confidence and economic growth have bounced back. Choksi expected to bag over $100 million in sales in the first year of operations in the UAE which will include revenues from its retail and B2B operations covering the Gulf and the rest of the Middle East market. In the next three years time, sales are projected to be in the range of $150 million. With more than 4000 points of sale across India, Gitanjali is planning to make a big push into Russian and African markets also, its chairman said. The Jewellery retailer owns and distributes eight out of the top 10 jewellery brands in India including Gili, Nakshatra, Asmi, Damas, Sangini and Diya. The group owns two large retail chains in the US, Samuels and Rogers; and has recently acquired a number of premium Italian brands such as Stefan Hafner, Valente, IOSI, Poratti and Giantti. Choksi said these newly acquired Italian brands will be available for sale to customers at the Group’s upcoming outlets in Dubai. A group unit, Gitanjali Gems Limited which is listed on BSE, showed a growth in revenues by 33 per cent to Rs124.98 billion in the financial year ended March 31, 2012. The Gitanjali Group is one of world’s largest integrated conglomerates whose business spread across the entire value chain from processing rough diamonds to manufacturing, branding, retailing and distribution of gold and diamond jewellery and brands. The group have ‘50-shop-in-shops,’ located in jewellery and the departmental stores in the GCC, a business it entered 15-years ago and plans to increase its brand presence to 75 stores in 18-months, he said. Nakshtra’s new showroom in Lamcy Plaza displays Paisley, Mirage, Coronation, Vivaah, Signature and Solitaire as Diamond Collections and has also introduced a complete range of 22k Gold & traditional Polki Nizam collections to delight the Asian community. Nakshatra which was acquired by the Gitanjali Group in 2008, today boasts of 15 Mono Brand Showrooms and more than 1,000 points of sale in India.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today jewellery chain gitanjali expands its outreach Arab Today, arab today jewellery chain gitanjali expands its outreach

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday