Reliance Retail plans foray into jewellery

Mona Mehta
Posted: 2007-09-10 00:00:00+05:30 IST
Updated: Sep 09, 2007 at 2234 hrs IST

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Mumbai, Sep 9: Mukesh Ambani-promoted Reliance Retail is planning to aggressively foray into jewellery retailing segment in a big way. Confirming the new development, Bijou Kurien, president & chief executive - lifestyle, Reliance Retail told FE, "We are planning to set up about 400 to 500 jewellery retail outlets across the country, beginning with major metroes. For the purpose, we are in talks with gems and jewellery manufacturers and exporters in order to enter into tie-up with them for sourcing designer jewellery from them in sync with the trend in the national and international market. But, we will not enter into manufacturing jewellery."

Reliance Retail has recently held talks with gems and jewellery manufacturers and exporters majors, Gitanjali Group, Intercontinental Gems and Rosy Blue Group in order to enter into tie-ups with them for sourcing jewellery from them and selling them through Reliance branded jewellery retail outlets, according to confirmed sources. However, Kurien refused to divulge details about the gems and jewellery majors whom they would be tying up with. When contacted, Mehul Choksi, chairman, Gitanjali Group said, "Yes, we are in talks with Reliance Retail and we are planning to design a special jewellery collection for Reliance Retail as they have shown interest in sourcing jewellery from us for their exclusive jewellery retail oulets.