Gitanjali Group, the leading jewellery retailer is planning to open around 300 shops in India and 250 in abroad by end of this year. It is likely to expand in the domestic market via franchise route in Tier II and III cities as rents are lower than the tier I cities. The entity has decided to spend around Rs 50 crore in this year for domestic expansion. It aims to increase its presence in the international market, especially in America and Japan this year.
Gitanjali Group is a 52-year-old entity having stores outside the country including USA. It is only in the last few years that it is concentrating on retail markets to boost revenue. Gitanjali has a presence in more than 60 cities across India with 104 stores.
