Gitanjali Gems unit to add 40 multi-format stores

Gitanjali Lifestyle, a unit of Gitanjali Gems, is going to add 40 multi-format stores under its ‘Maya’ brand in the next three years and expects revenue of 10 billion rupees from multi-format stores. The company would spend 700-800 million rupees annually for retail expansion under the ‘Maya’ brand. The multi-format stores acquired by Gitanjali Lifestyle after it took a 76 percent stake in apparel firm Salasar Ltd will be a new landscape to explore for signage players, such as in-store media companies