Reliance Retail tries a hand at jewellery retail

Reliance Retail is extending its retail platform to India’s jewellery segment, and plans to set up 400-500 jewellery retail outlets beginning with major metros. To fructify its foray, Reliance appears to be in talks with Gitanjali Group, Intercontinental Gems and Rosy Blue Group for sourcing the required jewellery pieces.

“We are in talks with gems and jewellery manufacturers and exporters in order to enter into tie-ups with them for sourcing designer jewellery which are in sync with the trend in the national and international market. But, we will not enter into manufacturing jewellery,” Reliance Retail president and chief executive - lifestyle, Bijou Kurien.

Although no agreements between the jewellery manufacturers have been finalised as yet, Gitanjali Group chairman Mehul Choksi mentioned that, “Yes, we are in talks with Reliance Retail and we are planning to design a special jewellery collection for them as they have shown interest in sourcing jewellery from us for their exclusive jewellery retail outlets.”