Franchise India:
Gitanjali Group, an Indian jewellery retailer plans to invest around Rs 414 crore to expand its retail presence across the Middle East. The brand targets to open 200 Point of Sales (POS) within three years in the Middle East region.
Initially, the proposed expansion will be primarily through shop-in-shops (SIS). Later the group would look at partnerships with region’s leading jewelers and tie-ups with the key chain stores.
The company may also consider adopting the franchise route in future to extend its retail footprint further in the region. With presence of almost 15 years in the UAE, Gitanjali currently has 50 shop-in-shop contracts all over the country. The company is also looking to expand the brand into Saudi Arabia and is looking at opportunities in Qatar, Kuwait and Bahrain.