Gitanjali expanding its footprint

Gitanjali Jewellery Retail Private Limited, a unit of the Gitanjali Group that retails jewellery, fashion,

lifestyle and luxury products is planning to expand its business aggressively in 2010. They are looking at opening 35 exclusive brand outlets in major cities across India within this year.
Gitanjali Jewellery, is a leading manufacturer of diamond and gold jewellery. It makes brands like Gili, Asmi, D’damas, Maya and Nakshatra. Last week, it opened a new exclusive showroom in Berhampur, the biggest commercial town of south Orissa. Currently, Gitanjali Group has nearly 150 outlets across India, out of these 45 sell branded jewellery in 30 towns. After Berhampur, the company is looking to open new outlets in Sambalpur, Jharsuguda and Balasore in Orissa.
The company is optimistic since the demand for gold jewellery has increased despite the global financial meltdown and rising prices of gold and diamond. The company feels people still consider gold as a safer investment. At present the demand for gold in India is around 850 tones per annum.
Gitanjali has already partnered with various leading mall developers under the revenue sharing model. Retail Expansion will be in EBO, MBO and Large Multi Format Store categories this year.