Gitanjali Gems on an expansion spree

Gitanjali Gems Ltd, that owns brands such as Asmi, Ddamas, Nakshatra and Gili, plans to twofold its reach in a year’s time to cover 2 million sq. ft of retail space as it plans to open new stores in smaller towns, at railway stations and cinema theatres.

The jewellery firm has grown tremendously in four years. It recorded Rs1,621 crore sales in 2005-06 and Rs5,088 crore in 2008-09, and is slated to end this fiscal with a growth of at least 35 per cent in net sales.