{"id":3087,"date":"2007-11-15T03:17:21","date_gmt":"2007-11-15T03:17:21","guid":{"rendered":"http:\/\/indonesiajewelry.com\/news\/2007\/11\/15\/reliance-retail-enters-jewelry-biz\/"},"modified":"2007-11-15T03:17:21","modified_gmt":"2007-11-15T03:17:21","slug":"reliance-retail-enters-jewelry-biz","status":"publish","type":"post","link":"https:\/\/indonesia-product.com\/news\/reliance-retail-enters-jewelry-biz\/","title":{"rendered":"Reliance Retail enters jewelry biz"},"content":{"rendered":"<p>Reliance Retail enters jewelry biz<br \/>\nNDTV.com, India<br \/>\nSunanda Jayaseelan<\/p>\n<p><!--adsense--><\/p>\n<p>Wednesday, November 14, 2007 (Bangalore):<\/p>\n<p>Mukesh Ambani-promoted Reliance Retail has entered into the jewelry business starting with a store in Bangalore entitled \u00e2\u20ac\u02dcReliance Jewel\u00e2\u20ac\u2122 and then going to Hyderabad before it establishes a pan India presence. The store will offer gold, diamond, platinum and silver jewelry.<\/p>\n<p>\u00e2\u20ac\u0153It is a huge market and we are targeting about 10 per cent of that going forward. By 2015, we plan to overtake Tata\u00e2\u20ac\u2122s Tanishq, the largest organised player in this market now,\u00e2\u20ac\u009d said Ashok Kaul, Biz Head and VP-Jewellery, Reliance Industries Ltd.<\/p>\n<p>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.<!--more--><\/p>\n<p>There is a huge potential for growth as the market size of jewelry market is estimated to be around Rs 18,000 crore. According to the company, Reliance Jewels will contribute around 6 per cent of total revenue of Reliance Retail.<\/p>\n<p>\u00e2\u20ac\u0153We are focusing on class A and B cities as it is a huge market and we do not want to restrict ourselves to anyone particular group,\u00e2\u20ac\u009d said Kaul.<\/p>\n<p>The scale of these stores is typical of Reliance as the focus is on mass and volumes to drive growth. It is evident from the fact that the company is planning on taking these stores to tier 2 n 3 towns as well.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 \u00e2\u20ac\u02dcReliance Jewel\u00e2\u20ac\u2122 and then going to Hyderabad before it establishes a pan India presence. The store will offer gold, diamond, platinum and silver jewelry. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[411],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reliance Retail enters jewelry biz - Directory of wholesale, manufacturers, distributors, importer and exporter in Indonesia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/indonesia-product.com\/news\/reliance-retail-enters-jewelry-biz\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reliance Retail enters jewelry biz - Directory of wholesale, manufacturers, distributors, importer and exporter in Indonesia\" \/>\n<meta property=\"og:description\" content=\"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 \u00e2\u20ac\u02dcReliance Jewel\u00e2\u20ac\u2122 and then going to Hyderabad before it establishes a pan India presence. 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