Shrenuj & Co. Ltd., has stepped into retailing, with the launch of its ‘Diti’ branded retail stores across India. The stores will be based on the shop-in-shop format, with deliverables of diamond studded jewellery in gold and platinum. Price points for the jewellery have been kept at an average of Rs.15,000 ($346) per piece. This is the company’s first retail venture in India, although it does have its own retail chain overseas.
The Diti stores will be scaled up to 170 numbers within three years, of which 10 would be flagship stores, the rest being shop-in-shop. It has slated an invest Rs.40 crore ($9.24 million) for its retail venture which would span across 29 cities.
The company ahs strategised to concentrate in retailing within developing markets, citing opportunities in India, China and the Middle East. Shrenuj & Co. Ltd. is a DTC sightholder.
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