Gitanjali forays into tier III & IV cities

Gitanjali Group, country's leading jewellery retailer is planning

Gitanjali Group, country’s leading jewellery retailer is planning to open around 20 large format ‘Maya by
Gitanjali Lifestyle’ stores by December. It is planning to infuse around Rs 100 crores.

Targeting the women audience through these format stores, the company would make its entry in tier III
and IV cities. The company wants to take advantage of the opportunity as the first entrants.

The company will convert the outlets of retail chain Salasar Retail, in which it acquired a majority 76%
stake last year, into Maya by Gitanjali Lifestyle stores. Currently Salasar Retail has 11 stores out of which
two are in Delhi and the remaining are in smaller cities such as Raipur, Gwalior, Kanpur and Guwahati.

Gitanjali also has plans to open these stores in other parts of the country having a target turnover of Rs
1000 crore in the coming three years.