India’s jewellery retail giant, Gitanjali Gems Ltd, plans to magnify its retail presence by
opening 500 stores by the end of this financial year.
In order to fulfill the demands of the Indian audience, the company plans to add 300,000
square feet of retail space by this fiscal, up from its current 1 million square feet.
As India is the biggest consumer of gold market along with the rising income and
festivals such as Akshaya Tritiya holy day, the demand for gold and diamond jewellery
surges. Gitanjali by offering the products at lower prices aims at tapping the audience.
The company also has plans to accelerate its store launch in China by opening 100 stores
in the next three years.