Rajesh Exports, an India-based jewellery manufacturer and retailer operating under the brand Shubh Jewellers, plans to set up 500 retail stores in south India by 2015.
On 24 April 2012, the company announced opening of 20 new Shubh Jewellers showrooms in the state of Karnataka to celebrate the auspicious day of Akshaya Tritiya.
The showrooms are located at: Arasikere, Athani, Basavakalyana, Banaswadi, BC Road, Bellary, Channarayapatna, Chalkere, Chickmagalore, Chitradurga, Hiriyur, Holenarsipura, Kadur, Koppa, Ramanagara, Sagara, Shimoga, Shimoga, Shiralkoppa and Theerthahalli.
With the addition of 20 new locations, the total number of showrooms grows to 76 in Karnataka and 80 across the nation, thereby establishing the firm as the largest retail jeweller in south India.
The company will add about 12,700ft² of retail space adding to the existing 41,200ft² of retail space, reported The Economic Times.
Rajesh Export continues to strengthen its position in retail business with the expansion of the ‘Retail Gold Revolution’, which the firm launched in Karnataka under retail chain stores brand Shubh Jewellers.
The Indian firm believes that the opening of new shops emphasizes the confidence in its unique franchising model.
The Jeweller is planning an aggressive retail expansion plan, which would play a crucial role in the incremental profitability in the quarters to follow.
During the festive weeks of Diwali and Christmas, Shubh Jewellers recorded sales in excess of Rs900m ($17.10m), wherein more than 330kg of jewellery was sold in a retail area of about 45000ft².
Rajesh Export has set up a gold jewellery manufacturing facility at Whitefield, Bangalore, with a capacity to process 250 tonnes of gold into finest jewellery.
Founded in 1990, the Bangalore-based company claims to have one of the world’s largest jewellery design database of 29000 designs.
On Akshaya Tritiya, another jewellery retailer Gitanjali Group has tied up with the Siddhivinayak Trust to launch the Gitanjali Jewellery Vending Machine (GJVM) at the Shree Siddhivinayak temple.
The new gold and diamond ATM gives Shree Siddhivinayak worshippers an opportunity to celebrate this momentous occasion with gold coins, bars and jewellery.