Jeweller Rajesh Exports plans Rs6500-cr retail expansion
21 Feb 2011
Leading gold jewellery-maker and exporter Rajesh Exports has earmarked Rs6,500 crore for a foray into retail. It plans to set up a 550-store network across India over the next three years.
"We have already launched our retail operations under the brand-name Shubh Jewellers. We are now scaling up our operations and plan a 550 strong store-network at an investment of Rs6,500 crore in the next three years," Rajesh Exports chairman Rajesh Mehta said in Mumbai on Sunday. The company at present has 29 Shubh Jewellers outlets.
Under the model, Rajesh Exports will take over existing jewellery shops, put in its inventory and implement its processes and systems under the Shubh Jewellers brand.
The original shopkeeper will get a commission and manage the store but with the Shubh systems in place. "We have already got 1,900 applications from across the country," Mehta said
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