Gitanjali Group’s US-subsidy sales rise 8.4 percent

Gitanjali Group has announced that its US-based subsidiary

Samuels Jewellers comparable jewellery store sales for the nine week holiday season for 2012 were up 8.4 percent, driven by an 11.2 per cent increase in December. The season kicked off with record breaking Black Friday. This results in 18 percent comparative sales gain over the last two years.

Opines Mehul Choksi, CMD, Gitanjali Group, “Samuels’ strong holiday season sales demonstrate that it has struck the right chord with US customers yet again. Customers seeking added value were enchanted by the fresh bouquet of Italian brands like Giantti and Porrati introduced in stores. The new 97-facet Brilliant Fire diamond also found popularity with customers,” he said.

Choksi further added, “With the US market showing signs of stabilising, we are confident of this trend continuing through the upcoming Valentine season. The excellent results may also be attributed to superior in-store service and precision in merchandising and retail positioning making for a magnificent retail experience which drove in-store conversions.”

Meanwhile, Samuels will continue to benefit as Gitanjali further expands its brand line up and leverages its sourcing strength, in-house manufacturing capabilities and cost optimization through outsourcing of non-core US functions back to India.