Tara Jewels is closing three stores located at Delhi and Pune, which were opened in the company’s Phase I launch and have been operational for almost last four years. The company is taking this step as the management has decided to re-strategize the India retail business to adapt to the current regulatory environment. At the operational level the company is consolidating/closing the less profitable gold centric stores and increasing focus on the higher margin diamond & studded jewellery business.
In the medium to long term, the company proposes to continue to expand its retail footprint through the Shop-in-Shop model and will explore options of the asset light franchise model. The new strategy will help the company achieve faster expansion with lesser capital allocation.
Tara Jewels is an integrated player in the jewellery industry with experience ranging from designing to retailing of jewellery. They have been the second highest exporter of studded jewellery from EPZ and EOU complexes in India for the year 2006-2007, 2007-2008 and 2008-2009.
