SRS Jewells, the flagship brand of SRS has announced the launch of its operations in Mumbai with the opening of its wholesale outlet in India’s biggest gold and jewellery market, Zaveri Bazar. This move is in line with SRS Limited’s commitment to strengthen SRS Jewells, its flagship branded jewellery business and expanding its reach to newer cities in India. While the immensely popular brand from SRS Ltd retails a wide variety of Certified Diamond and Hallmarked gold jewellery suitable for all occasions, its Mumbai operations will be focused on jewellery and gold bullion wholesale business. SRS Jewells reported a turnover of Rs 1800 crores in the FY 2011-12 and is growing at a CAGR of approximately 25 per cent.
Dr Anil Jindal, Chairman, SRS Group, said, “We are pleased to announce the expansion of SRS Jewells with our Mumbai operations and our aim to expand the brand’s reach to all prominent markets in India over the next few years. Zaveri bazaar contributes maximum share in India’s Gold & Diamond jewellery wholesale business and our presence here will not only boost awareness of our brand but will also help establish our presence emphatically in this strategic geographical market.”
Currently, SRS Ltd has five SRS Jewells retail stores, spread across New Delhi, Faridabad, Palwal and Ghaziabad, and three wholesale stores, two in New Delhi and one in Mumbai. SRS Ltd has two manufacturing units, one each in Noida and New Delhi.
According to Sunil Jindal, Managing Director, SRS Ltd, “Within a short time, since its inception, SRS Jewells has established itself as a credible player in the jewellery industry in India. Our new wholesale outlet in Zaveri Bazar, Mumbai, is the first step towards the expansion of our wholesale operation as we aim to further strengthen our position with new stores in all major cities of India.”