Gitanjali Jewels, the retail arm of Gitanjali group, opened its 100th store in the country in Gurgaon.
Gitanjali Jewels, the retail arm of Gitanjali group, opened its 100th store in the country in Gurgaon. The company plans to open 60 more stores by the end of this year especially in tier II and III cities.Extraordinary offers are being laid out for customers at Gitanjali Jewels’ largest showroom in North India, including up to 100 per cent cash back on diamond and gold jewellery. Santosh Srivastava, Managing Director, Gitanjali Jewels, said: “It is one of the largest store in North India. It spreads across 5500 sq.ft and offers a dazzling bouquet of India's leading Jewellery brands, including Asmi, Nakshatra, D’damas, Gili, Diya, Parineeta, Sangini, Nizam, Ananya & Gitanjali gold. Having started out with 5-6 stores at the beginning, it’s a moment of sheer pride for us to be inaugurating our 100th store.”
The investment required to open a Gitanjali franchise is Rs 30 lakh- 1 crore with an area of 300 sq.ft and above. The return on investment is 18- 30 per cent with break-even of usually 8-12 months.
The 100th store franchise is owned by Ajay Mittal and Ashok Mittal. All diamond jewellery sold at Gitanjali Jewels is certified by reputed international laboratories, while the gold jewellery is BIS hallmarked. Currently, Gitanjali’s 10% stores are company owned while 90% are franchisee owned.