The Group is also planning to introduce specially-cut diamonds in the Indian market to be exported specifically to the US in the next few months. At present, diamonds manufactured by Gitanjali are exported to the US, Japan, Hong Kong, Italy and China, Gitanjali Group chairman Mehul Choksi told FE.
As for the Indian and the Middle-East market, Mr Choksi said: The Group is planning to expand its number of Gili jewellery shop-in-shops from 125 to 200 within a year. During the same period, the company is also planning to expand its number of The Facet Shop from 8 to around 30. At present, it has three lakh retailers in the Indian market.
Mr Choksi explained that while Gili has initiated and built-up the impulse buying market for the branded jewellery segment in India, The Facet Shop has created a footfall for itself in large shopping malls.
The Group also proposes a national roll-out of a new customer loyalty purchase-related programme soon called Gili Club, whereby customers will be awarded points based on purchases made.
According to Mr Choksi, with the new retailing initiatives, the Gitanjali Group hopes to grow over 40 per cent in the next few years.