Reliance Retail enters jewelry biz
NDTV.com, India
Sunanda Jayaseelan
Wednesday, November 14, 2007 (Bangalore):
Mukesh Ambani-promoted Reliance Retail has entered into the jewelry business starting with a store in Bangalore entitled ‘Reliance Jewel’ and then going to Hyderabad before it establishes a pan India presence. The store will offer gold, diamond, platinum and silver jewelry.
“It is a huge market and we are targeting about 10 per cent of that going forward. By 2015, we plan to overtake Tata’s Tanishq, the largest organised player in this market now,†said Ashok Kaul, Biz Head and VP-Jewellery, Reliance Industries Ltd.
Reliance is betting big on the jewelry retail business as the company plans to open over 300 stores across metros and mini metros. In order to lure customers Reliance plans to offer its product range at very competitive prices. Read more about Reliance Retail enters jewelry biz …