Gili goes to smaller towns

Premium diamond jewelry brand Gili plans to expand its retail network in smaller towns

especially Tier II and III cities. It is looking at opening 31 stores this fiscal at an investment of Rs 200 crores. Currently, it has 19 EBOs besides 400 shop-in-shops. Gili, a wholly-owned subsidiary of Gitanjali Gems, is aiming for a 50 per cent topline growth this fiscal. The company’s revenues in FY ’10 stood at Rs 428 crores. The demand for diamond jewelry has increased manifold in the last two years due to spiraling gold prices.

Consumption has increased in smaller markets following a rise in income and spending capacity. While consumers have become more brand conscious, the brand is looking at connecting with people through their favorite celebrities. The company invests around Rs 15 to Rs 20 crores every year on marketing and advertising. Gili, the first branded jewelry of India, started in 1994, took everyone by surprise with its unique, inimitable and never seen before products. It’s marvelous designs featuring a blend of Indian and western nuances had made Gili jewelry a stupendous sensation.