Rajesh Exports is preparing to consolidate its entire retail portfolio consisting of two chains – Shubh and Laabh under its Shubh retail identity, reports say. This decision is the outcome of the economic slowdown which has caused the retail environment to become sluggish, reports say. During the financial year 2008-09, the company has witnessed a 30 percent fall in its retail sales, which amounted to INR100 crore.

The company believes that consolidation would enable stronger brand identity and facilitate easy operations. ‘Shubh’ and Laabh’ were launched in 2007; Shubh caters to the gold jewellery segment for the mass and middle markets; Laabh addresses the high-end jewellery segment. Presently three Shubh outlets are under operation.

The company has already begun its retail consolidation plans, and has converted three of its 27 Laabh stores into Shubh stores. The entire consolidation is expected to be completed within six months.