Reported By:
| Edited By: |Source: PTI |Updated: Mar 17, 2018, 02:41 AM IST
Gitanjali Lifestyle, the retail arm of the Rs5,000 crore branded jewellery major, Gitanjali Group, will open 63 Maya departmental stores and 63 Suddhi outlets by the end of FY 12, a top company official said. The company also plans to diversify into the spa business, he said.
While Maya will be a combination of exclusive brand outlets and multi brand outlets, Suddhi outlets will be company-owned and operated, Gitanjali Lifestyle's president, Sadanand Pawar, told PTI here today.
"We've already signed properties for the 63 Maya stores on a revenue-sharing model," Pawar said. The group is also planning to come out with customised products like bags and perfumes and extend its frontline jewellery brands -- Nakshatra, Gili, Asmi, and Ddamas.
It also plans to introduce private labels in these segments as well as apparel and wedding fashion in Maya Weddings and Occasions, an EBO.
Gitanjali presently has 148 lifestyle stores such as Gili, Asmi, D'damas and Nakshatra, besides Italian cutlery store, Greggio, multi-brand luxury watch-store Bezel, Lucera and lingerie wear-store, Lolita.
The Maya departmental store is the result of Gitanjali's recent acquisition of Delhi-based retailer, Salasar. The company will also introduce eye-wear and is in talks with a few foreign companies for signing the JV.
