Pursuant to extension of its well-known brands, Gitanjali Group, an Indian retailer of branded jewellery, which has recently entered into the apparel space, intends to set up around 200-300 sales points pan India by end of this year.
Aiming to expand the product line, business and product offerings, the company found nothing better than apparels and accessories to compliment a jewellery line, Gitanjali Group CMD Mehul Choksi told PTI, Economic Times reported. However, he said the Group is planning apparel brands only for its popular jewellery lines.
After launching apparels under its Diya, Gili and Maya brands, last year, this year the Group intends to launch apparels under its Asmi and Viola brands. Also, it intends to soon enter into men’s apparel space and launch an apparel line under Revv, a jewellery brand targeting youth, he said. The Group intends to raise about Rs. 200-300 million through internal accruals for spending on marketing and promotion of these apparel brands. Planning to launch some 200-300 sales points including franchise outlets, multi-brand stores and online sales portals, the company is even targeting Tier II and Tier III cities alongside metros and Tier I cities, Mr. Choksi said.
For online sales, he said the company has already tied up with online sales portals like Jabong, Flipkart and Myntra. Production of these apparel lines would mainly be undertaken at the company’s Jaipur-based manufacturing unit, but the company would also procure some of its requirements from independent vendors, Mr. Choksi said. Answering a query on overseas expansion, he said having ventured into this space just around eight months back, they first intend to establish a foothold in the domestic market. However, he said the company is planning to soon launch its apparel brands overseas, starting with the Middle East. The Group plans to launch it apparel brands in Dubai within next two months, he added.
