Lalsons Jewellers to open 6 branded outlets this year

Pummy Kaul in New Delhi

Former Miss India Gul Panag at the launch of Lalsons’ Jewellers new collection

Delhi-based Lalsons Jewellers has chalked out an ambitious Rs 55-crore retail expansion plan that will focus, initially, on the North India. Hitherto a one-showroom shop based in Delhi, Lalsons is now getting aggressive on the North Indian market with special focus on Delhi, Punjab and Haryana, Lalsons Jewellers’ Mr Rajeev Verma told The Financial Express.

In the first phase of expansion, Lalsons plans to open six exclusive company-owned branded outlets besides several shop-n-shops in various department stores in Delhi, this year. Apart from these, the company will spread out to Punjab and Haryana through the franchise route. The company is currently in the process of setting up a dealer network in Delhi, Haryana and Punjab.

Cities like Pune, Lucknow, Baroda, Bhubaneshwar, Noida and Jammu among others will be targeted later after gauging the market response. Each of the company-owned outlets will have an area of about 800 sq ft and will cost about Rs 2 crore per store to the company. Among the department stores being eyed by Lalsons are Ebony, and upcoming stores such as Westside and others.

Meanwhile, in a unique marketing ploy, Lalsons, on Tuesday launched a ‘cheaper’ alternative to real diamond jewellery termed ‘The Imperial Collection’. Targeted at the masses and intended to garner volumes for the company, the new collection is a zircon and real natural stones-studded 22/22k gold jewellery that, claims the company, provides the same precious look and design as compared to real diamond jewellery. Stamped with a BIS hallmark and available in over 5,000 designs, the collection is priced Rs 500 onwards.

The company hopes to achieve a sales target of Rs 35 crore by the end of the current financial year.