MMTC introducing new jewellery brand, expanding retail stores

MMTC plans to launch a new gold jewellery brand, aiming at expanding its footprint in the domestic retail market. The company also plans to set up 30 more retail outlets to sell the branded jewellery. At present, the company has around 15 outlets across the country. The PSU has a joint venture with Gitanjali Group for gold and diamond jewellery retail. The company expects about 50 percent jump in turnover to Rs 67,500 crore in 2010-11. Mega expansion plan of the company is a sunshine business opportunity for the signage companies, such as PSPs, sign makers, fabricators and others engaging in retail sector.