Shree Ganesh Jewellery ties up with Bharti Retail, launches Gaja Lites

KOLKATA: The Rs 5,900 crore Shree Ganesh Jewellery has tied up with Bharti Retail's 'Easy Day' market format to market its Gaja Lites range of jewelleries. The company is planning to triple its turnover from the retail segment from Rs 400 crore to Rs 1,200 crore in the next two years.

Shree Ganesh Jewellery has launched ‘Gaja Lites’ to tap the growing fashionable, light weight gold and diamond jewellery market in India. The company has been gearing to tap the lower end of the market spectrum by introducing the light jewellery market in India. The launch of GAJA Lites is an integral part of Shree Ganesh’s aggressive strategy to strengthen its retail network in India. It plans to create 250 outlets in tier II and tier III cities under its flagship brand Gaja.

With soaring gold prices, the company sees a significant potential for low-budget spenders looking for value for money jewellery through Gaja Lites. Shree Ganesh had invested Rs 30 Crore for advanced Italian machinery as part of its strategy to build in capabilities for producing light weight jewellery last year. The weight range for light weight jewellery varies in between of one to 20 grams in 18 karat to 22 karat gold.

Commenting on the launch, Mr. Nilesh Parekh, chairman, Shree Ganesh Jewellery House Ltd said: “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. With escalating prices of gold every day, consumers are also exploring viable options for buying jewellery since it is considered as an investment as well."