Shree Ganesh Jewellery to triple retail business turnover in two years

KOLKATA: Kolkata’s leading jeweller, Shree Ganesh Jewellery plans to triple its turnover from the retail business from Rs 400 crore to Rs 1,200 crore in the next two years. As part of this, the Rs 5,900 crore company has also launched a new brand, Gaja Lites, to tap the growing fashionable, light-weight gold and diamond jewellery market.

The company has plans to roll out 250 outlets in tier II and tier III cities under its flagship brand Gaja. It is hopeful that with soaring gold prices, it plans to tap the low-budget spenders with the Gaja Lites brand. Shree Ganesh has also tied-up with Bharti’s value retail format, Easy Day, to sell the brand.

The weight range for Gaja Lites will vary between one to 20 gms with 18 to 22 karat gold. In the premium segment, Shree Ganesh has two brands -- Gaja Heritage and Gaja by Sabyasachi, the latter developed exclusively with designer Sabyasachi Mukherjee.

The company had seen a positive response to light jewellery during festive and other occasions like Valentine Days and Akshaya Tritya wherein sales increases by 20%-40%.

"Gaja Lites comes as a part of our brand extension and is also a key aspect of our domestic retail expansion. Our chief objective is to create a fashionable yet affordable collection for the women professionals who prefer minimal jewellery," says Shree Ganesh Jewellery House chairman Nilesh Parekh.