Shree Ganesh the Rs 5,800 crores jewelry house, is buying a Dubai diamond manufacturer and retailer for $150 million.
With 17 company-owned Gaja stores and seven franchisee stores, Shree Ganesh plans to have 50 company-owned stores in two years and 50 franchisee-run stores in one year. It expects the revenue from the retail segment to grow from Rs 400 to Rs 1,200 crores in two years. It is a government of India-recognized four star export house and is one of the leading manufacturers and exporters of handcrafted gold jewelry from India. Moreover the jeweler is also eyeing a 150-year-old Italian jeweler and wants to launch its brand in China, Korea and Japan.