Shree Ganesh Jewellery to go national

Kolkata-based Shree Ganesh Jewellery House Limited (SGJHL)

with a good credit rating plans to pump in Rs 100 crores over the next two years to consolidate its business through expansion. Promoted by Nilesh Parekh and Umesh Parekh and headquartered, SGJHL has subsidiary offices in Hyderabad, Chennai, Bangalore, and Delhi. According to Ashok Sahni, chief finance officer of SGJHL they intend to consolidate their domestic presence in retail and hence the investment.

SGJHL had so far been restricted to its retail outlet in Kolkata but recently launched its second outlet in the commercial city of Rajkot, Gujarat. The first outlet in Gujarat will soon be followed by the second in the state capital Ahmedabad. More outlets are planned in Vadodara and Surat within a year. Talking about the expansion strategy, Sahni said that the company would be opening up 6-8 more jewelry outlets across India by end of this year. SGJHL will open outlets in cities like Ludhiana, Chandigarh, Siliguri, Mangalore and Pune, among others.

Currently domestic retail forms only 10 per cent of its business, while exports take the major share. SGJHL majorly exports its jewelry to the Middle East and Far East. A Rs 4,500 crores company, Shree Ganesh is a four star export house. The company is a leading manufacturer and exporter of hallmarked and handcrafted gold jewelry from India and the shares of the company are listed in Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). It is into manufacturing and exports of gold, diamond, gemstone studded and light weight Italian jewelry.