Rajesh Exports to launch jewellery chain stores

Bangalore: The time for jewellery retail in India seems to have finally arrived. Jewellery manufacturing company Rajesh Exports is reportedly planning the launch of its ''Shubh Jewellers'' retail chain in Southern India. At an expected outlay of Rs350 crore, Rajesh Exports is reportedly acquiring neighbourhood jewellery shops to organise the local jewellery market. A mass market brand, the Shubh Jewellers chain will most likely see Rajesh Exports provide the inventory, while the front end retail will continue to be managed by the local jewellers. The first of these stores will reportedly roll out at Bangalore sometime during the first week of December, with an overall target of 100 Shubh stores by around April 2008 in southern India. The next region for expansion could be the north of India, according to reports. Rajesh Exports has another retail venture, branded ''Laabh Jewellers'', which offers high-end designs that compete with well-entrenched brands such as Tata''s Tanishq. Presently, the company has around 30 Laabh stores in India, and both the ''Shubh'' and the ''Laabh'' chains are expected to bring in cumulative retail revenues of around Rs200 crore this year, which will reportedly grow to Rs1,000 crore in financial year 2008-09 owing to a retail expansion plan.