Omaxe Chowk has signed up jewellery business giants Tanishq, Senco, and Giva for their flagship stores in Chandni Chowk, who have taken close to 11,000 sq ft of space in Jewel Court. Other major brands, including traditional jewellers from across India, are also lining up to sign at Omaxe Chowk, according to the company.
Omaxe Chowk is bringing a wide range of jewellery solutions under one roof and endeavours to become an end-to-end jewellery marketplace. The lease rental signed with the brands ranges from Rs 500-800 PSF and the area varies between 600 sq. ft. to 6000 sq. ft.
“With some of the most renowned jewellery retailers opening their stores in Omaxe Chowk, we are confident and committed to creating an ecosystem where national brands and traditional jewellers co-exist to offer our customers a delightful range of gold, silver, and diamond jewellery. With a prudent mix of modern and traditional jewellery in Jewel Court, the jewellery marketplace in Omaxe Chowk, consumers will be spoilt for choice with a cost-effective and fine range of jewellery,” said Jatin Goel, Director, Omaxe Ltd.
Tanishq, a division of Tata Group; Senco Gold Limited, the five-decade-old Kolkata-headquartered jewellery retailer; and Giva, the third largest online jeweller, together command a large share of consumer wallet spend on jewellery.
“Omaxe Chowk is trying to build luxury with an Indian feel and that is special about the project. Connectivity is its biggest USP. With an advantageous location, it will provide a fine shopping experience to people who visit Chandni Chowk,” said Ishendra Agarwal, Founder, Giva, which has 20+ stores across India.
Omaxe Chowk, being developed in the PPP model with the Municipal Corporation of Delhi (formerly known as North DMC), will have five levels of parking that can accommodate more than 2200 cars. Besides, a proposed direct entry from one of the most visited metro stations Chandni Chowk will enhance the project’s connectivity quotient. The project is expected to be visited by more than 40 lakh shoppers every month, thereby providing jewellers an extensive consumer base.
Omaxe Chowk, with a hi-tech Security System and a multilevel parking facility, will provide a safe environment for shoppers and businesses. Provisions for storage rooms and banks will bring in operational efficiency and financial feasibility
Suvankar Sen, MD, and CEO, Senco Gold and Diamonds, said: “We are happy to be a part of Omaxe Chowk because we realised that there has been a shift from unorganised to organised both in B2B and B2C. As a brand, we have to cater to the young generation and this generation wants to be rooted in the Indian culture. For them, it’s pay not just for the product but also the experience. Indian brands today have created the same kind of aspirations that foreign brands have.”
Current leasing trends in Omaxe Chowk point to heightened interest by brands in all categories, including jewellery. To complement the jewellery ecosystem, Omaxe Chowk will also have a wide variety of wedding apparel, occasion wear, accessories, perfume, footwear, gifts, wedding cards, etc. Delicacies from around India, including Old Delhi, will be served here on the second floor.
According to the survey done by JLL, apparel and jewellery alone account for close to 30% of business in the Chandni Chowk market which is a lucrative and all-season shopping destination. Omaxe Chowk envisages becoming a facilitator of B2B and B2C trade in an advanced, safe and secure environment.