Gitanjali to open 150 stores in Tier-II cities

Corporate Bureau
Posted: 2008-08-06 01:45:56+05:30 IST
Updated: Aug 06, 2008 at 0145 hrs IST

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Gitanjali Gems Ltd, part of the Gitanjali Group of companies promoted by Mehul Choksi, is contemplating setting up 150 branded retail stores in Tier-II cities in the next two years. Gitanjali feels that these cities contribute 60% to the sales.

During the period, the company is also planning to expand point of sale for various brands from 840 to 1,500. For the retail expansion plans, it is planning to pump in $50 million, Anuj Rakyan, vice-president (jewellery division), Gitanjali Gems Ltd, said. The company has also roped Bollywood actress Katrina Kaif as its new brand ambassador for its popular jewellery brand, Nakshatra, replacing Aishwarya Rai, who was its brand ambassador since 2004.

Currently, Gitanjali Group sells its branded diamond and other jewellery products under brands, Nakshatra, Asmi, Gili, D’Damas, Sangini, Collection G, Gold Expressions and Vivaha Gold through 840 outlets.

Addressing a press conference, Rakyan said, “Katrina lends a refreshing look to the brand and is currently the reigning queen of Bollywood. We strongly feel that Katrina epitomises what Nakshatra stands for.”

Company sources added that the endorsement agreement with Katrina Kaif has been signed for about 18 months.

Commenting on the occasion, Kaif added, “I am delighted to be associated with a brand like Nakshatra that has garnered immense popularity not only in India but also worldwide. I hope this association is amiable and mutually profitable.” The Nakshatra collection has floral designs with multiple diamonds encircling a single large diamond to signify the constellation effect.

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Comments

» Retail Expansion

Posted by Jaspreet Singh on 2008-09-17 09:40:42.843874+05:30
We can help you in providing the retail spaces in high streets and malls in north india. For more info kindly visit our website www.realisticrealtors.com

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» business partner

Posted by Suresh Bansal on 2008-09-10 10:58:21.845294+05:30
WEHAVE A RETAIL SHOWROOM IN KARNAL(HRY) AND WANT TO START A BRANDED EXCLUSIVE SHOWROOM.KINDLY CONTACT

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» hi

Posted by Bhavdeep Singh Chadha on 2008-08-06 17:45:17.192744+05:30
It is so amazing that how every other actress, new or old in the fraternity, is being talked about stepping into roads where Aishwarya has been and sone all that.Katrina is more being in the news for her endorsement of Nakshatra which Aishwarya endorsed previously, than for Singh is Kinng or even Salman.Deepika for being excepted by the industry just like Aishwarya and a prospective future that is also touted to be the same.Priyanka for taking over projects which Aishwarya could not do due to date problems.Kareena for her ambitious hollywood film, trying to overtake Aishwarya.WOW...Aishwarya is like 'THE' meter for SUCCESS and FAME...This speaks all...About Nakshatra, the truth is that Nakshatra wanted to expand its base into Luxury Bags and Shoes also, which was not excepted by Aishwarya for endorsement as it would be a binding to use these brands only everywhere. And International festicals require brands like Gucci and Armani. So she let it go.

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» Hmm

Posted by Tara on 2008-08-06 21:52:49.171075+05:30
Why is it that every site i have been on, regarding this matter, you have posted the same flaming thing!Get over your self all ready, its just a deal, and as far as AIsh is concerned, she is nothing but fame hungry just like the rest!

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Gitanjali to open 150 stores in Tier-II cities

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