India’s premier jewellery trading house Gitanjali Group is shifting its focus towards other segments of the Indian market. The Rs. 3,500 crore group is ready to explore the more fruitful, lifestyle segment of the market. It wants to enter this segment with a bang by introducing new brands in jewellery, fashion apparels and watches.
Turning its plans into reality, the subsidiary company of the group, Gitanjali Lifestyle has launched a store under the brand name ‘Greggio’. Located in Delhi, this store showcases an exclusive range of silverware jewelry and other precious ornaments. The group has planned to launch 100 similar stores all over India in the years to come.
The group has associated itself with a premier Italian watch and apparel brands, ‘Noraletto’ and ‘Marielle Vurhani’, respectively for distribution purposes. It has made a target of setting up more than 25 shop-in-shops for these brands in India. Besides, the group is also planning to launch a grand showroom in Delhi, Chennai and other metros as well. This showroom will spread across the area of 3000 square feet.
Last but not the least Gitanjali Group has rigid plans regarding the expansion of the ‘Nakshatra’ brand. Apart from jewellery, the product range will now extend to include diamond studded shoes, handbags and other accessories. All of the group’s plans are channeled towards the sole purpose of firmly establishing the ‘Nakshatra’ as a jewellery and lifestyle brand, globally. The group has set a goal to achieve Rs. 1000 crore sales mark in five years from now.
