Gitanjali Group's Retail Expansion Strategies
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Code : SDN0015
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Region : India |
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About GitanjaliGitanjali was established in 1966 by late Chinubhai Choksi (Chinubhai) and was named after two of his daughters, Gita and Anjali. Initially, its business operations were limited to cutting, polishing, and trading in diamonds. Mehul Choksi (Mehul), son of Chinubhai, started working for Gitanjali after passing out of school in 1977. At that time, there was a huge competition among diamond traders and profits were minimal. So Mehul took the decision to enter the jewelry business in 1980. From then on, Gitanjali started making and selling jewelry and creating brands... Gitanjali Group's Retail Portfolio The Gitanjali Group used multiple channels to promote the growth of the jewelry business in India. It had exclusive distributors, franchisee partners, large format jewelry retailers, and own retail stores. The Gitanjali Group had different retail stores under the brand names of Gianti, World of Solitaire, Gitanjali jewels, Shuddhi jewels, Hoop, Maya Jewels, Jewel Souk, World of Silver ... |
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Retail Expansion Strategies Gitanjali’s Gitanjali Jewels Limited was formed in 1994 while the Gili jewelry brand was launched in 1995. However, things were not very favorable for Gili, as jewelry trade at that time was done only with trusted family jewelers...
Moving Forward The Gitanjali Group planned to expand its retail presence from 300 cities and towns to 600 cities and towns with a greater emphasis on Tier II and III cities and towns of India, as these towns were witnessing a rapid growth of demand for gems and jewelry. In addition, it planned to increase its retail space from 1.7 million sq.ft to 2 million sq.ft by 2015...
