Goenka Diamond plans retail expansion

Goenka Diamond and Jewels, a leading Indian diamond and diamond jewellery manufacturer and retailer headquartered in Mumbai, is planning to increase the number of its standalone boutiques in India existing under the brand name Ceres and G Wild, following an increase noted in demand for branded diamond jewellery.

It has outlined opening two additional Ceres stores and 17 G Wild stores, across Chandigarh, Ludhiana, Ahmedabad, Kanpur, Delhi, Goa, Amritsar and Kolkata in the next 18 months, with investment upto Rs. 100 crore. At present there are altogether nine stores under both brand names.

The company hopes this move will help it grow at 25 per cent per annum in the next five years. Jewellery under the G Wild brand is retailed between Rs 10,000 to Rs 4 lakh. The Ceres brand is a notch above with jewellery starting from Rs 5 lakh onwards.