Renowned diamond and jewellery supplier Gitanjali Gems, India, plans to expand its retail network in its home country and all around the globe.
“The company is going in for diamond jewellery retailing all over the world and also for more profitable items,” said Mehul Choksi, managing director.
According to an Idex report, the company plans to add 50 more stores in the United States, to expand its presence by 50 percent in the world's largest diamond jewellery consuming market.It will also establish distribution centres in China and the Middle East to increase its base, Choksi said.
The medium said Gitanjali also plans to increase its shop-in-shop model by 3,000 outlets all over the world. Investment capital will come from the company as well as private investors.
Choksi said: “While focusing on branding and retail, the company plans to increase its reach in the shop-in-shop model. In the United States, we are planning to open at least 15-20 stores by November."
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