Gitanjali Gems plans to double store count in two years

Jewellery retailer Gitanjali Gems, which owns brands such as Asmi, D’damas, Nakshatra and Gili, plans to double the number of its retail stores in India from 5,000 to 10,000 in the next two years. The expansion plan follows its efforts at consolidating its business over the past three years and changing its model to focus on diamond jewellery instead of gold and on exports as the domestic business environment remains challenging. In July, it merged brands Asmi Jewellery India and Spectrum Jewellery under Nakshatra Brands, which will now represent its brands business of Asmi, Sangini, Nizam and Parineeta. This big expansion plan of Gitanjali Gems will be an added business advantage for the signage companies whose activities involve in in-store branding and graphics.