 "Gitanjali Gems to invest Rs 150 cr in 50 stores")
India’s largest jewellery retailer Gitanjali Gems said on Wednesday it plans to invest Rs 150 crore to set up 50 stores under its new multi-brand jewellery format ‘Jewel Souk’.
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The company is also in talks with several cash and carry and hypermarket operators in India for setting up shop-in-shop stores, Rahul Vira, head of retail, Gitanjali Lifestyle, told Reuters.
Jewellery company stocks were sparkling all over in BSE with hopes of revival in domestic demand for gold jewellery during this festival season after the sharp fall in gold prices in last two days.
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