Tuesday, 14th December 2004 (4333 views)

Rajesh Exports, a key player in the jewellery sector has announced a new business plan to help it become a completely integrated company in the industry.

The plan of around Rs 700 crore should see its retail network open by next year and the firm is planning to open 100 stores in South India within the next two years.

Rajesh hopes to create up to four brands, which will be for both the domestic and international markets.

Chairman Rajesh Mehta told Money Control: "We are planning to emerge as a fully integrated player in the jewellery market. In the jewellery business there are five different segments - mining, refining, manufacturing, wholesaling, and retailing.

"While we are currently in three - refining, manufacturing and wholesaling, - we plan to backward integrate and get into the mining space, and also forward integrate into retailing."

According to Mr Mehta, "the retail plans are already underway" and the first stores should be open within the next 12 to 15 months.

 

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