Reliance Jewels targets 10% of India's jewellery market

Reuters reports that Reliance Jewels has targeted to capture a 10% market share in India’s jewellery market within five years, after it made its retail foray by setting up its store in Bangalore last November. The sales at this store have exceeded the company’s targeted sales, according to Reuters.

Reliance Jewels plans to set up 300 stores across India in the next three years. Reliance retail enjoys a good brand goodwill which it will employ to earn the market share apart from strategies like competitive pricing, jewellery assortment and demand for hallmarked jewellery. Seven outlets will be launched in Ahmedabad, Ludhiana and Dhanbad within the year.