Gitanjali Jewels plans retail expansion

Gitanjali Jewels has big retail expansion plans and that

includes launching 60-65 stores mostly in small towns by the end of 2013. Keeping in mind rising incomes and demand in small cities, the company expects to rake in more business from these cities. Gitanjali Jewels’ Managing Director Santosh Srivastava, says they plan to open stores in Morbi, Rajkot, Surat, Gandhidham and other cities across Gujarta.

The Gitanjali Group is a 52-year-old entity having stores abroad including the US, is the only company in the last few years that it is concentrating on retail markets to boost revenue. Gitanjali Jewels, the flagship brand of the Rs 12,000 crores Group, is a leading jewellery retail chain. It owns brands like Asmi, Diya, Gili, Nakshatra, Sangini and Parineeta. Gitanjali has a presence in more than 60 cities across India with 90 stores. Srivastava said, “There is no possibility of a decline in gold prices, which are expected to increase by 15 per cent within a year.”