Manappuram to open 50 jewellery stores

Manappuram Jewellers, a part of the Manappuram Group that has a major share in the Indian gold loan market, will open over 50 jewellery outlets in the next five years, as per an official of the company. Each showroom will have an investment of Rs 15-20 crore, said Vijay Shankar, chief executive officer of Manappuram Jewellers. All show rooms to be launched will be company owned, he said. Currently the company owns six showroom, three each in Kerala and Karantaka.