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Gitanjali Gems to expand footprint in the Gulf region

10 Sep 2013 Evaluate

Gitanjali Gems is planning to expand its footprint in the Gulf region opening seven more stores in Dubai alone over the next seven-eight months. The company already has 10 shop-in-shops in the city, being run under the Paris Gallery brand. As part of the Dubai expansion plan, the company will be hiring nearly 40 people.

The cash-strapped jewellery and diamond major is already present in leading global markets like the US, Japan, China and the UAE among others and already garner over 40% of its revenue from overseas markets.

Gitanjali Group is a 52-year-old company 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 Jewels owns brands like Asmi, Diya, Gili, Nakshatra, Sangini and Parineeta.

Peers
Company Name CMP
Titan Company 4636.45
Kalyan Jewell.India 574.65
Thangamayil Jeweller 6434.05
Rajesh Exports 85.79
Senco Gold 364.45
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