Gitanjali Launches JewelSouk: Exclusive Multi-brand, Multi-category store Chain
Mumbai, September 28, 2011
The Gitanjali Group today launched JewelSouk, a multi-brand, multi-category lifestyle store chain that brings together all major jewellery brands under one roof, marking a new landmark in the development of the modern, organised segment of the Indian retail jewellery trade, which is today estimated to have a turnover of Rs 5,00,000 crore, of which nearly 60 percent is from the burgeoning domestic market.
The first of this new category of stores was inaugurated at the International Terminal of the CSIA, Mumbai by Bollywood star, Sonakshi Sinha.
Landmark Development for Jewellery Retail
Jewelsouk will serve as a platform for leading fine jewellery, fashion jewellery and watches brands to come together under one roof and offer a wide variety to the consumer. The emphasis in the new format will be on offering consumers easy access to a wide range of national and international brands in a unique ambience that aims to make shopping more pleasurable and more convenient.
This new format is being introduced at the International Terminal of the Mumbai airport and will subsequently be extended to other lifestyle and luxury department stores that are emerging in the metros and Tier II cities. This will include premier shopping destinations such as Walmart, Centrals, Spencers, Star Bazaar, Kapsons and leading stand alone departmental stores.
Elaborating on the concept, Mehul Choksi, CMD, Gitanjali Group, says, "The Indian consumer is demanding a shopping experience that offers both the variety of choice and the high levels of quality that she enjoys in other leading international cities. JewelSouk aims to satisfy that need and boost the modern retail segment of the trade. It will offer exquisite jewellery and a few other branded lifestyle accessories to satisfy every type of taste."
Rahul Vira, CEO - Gili & Head - Retail, Gitanjali Lifestyle, says, "The JewelSouk store at the airport is the perfect place where international travellers can pick up jewellery as a gift or memento. The luxurious ambience enables them to look at the choices offered by the different brands and choose at leisure."
Airport Store: Exciting Opportunity for International Passengers
The new JewelSouk store at the international terminal of the CSIA is a large format store spanning 7,000 sq ft. which will offer international passengers an excellent opportunity to choose gifts from an array of well known jewellery brands.
Shekhar Wadke, Business Head- JewelSouk adds, "We are planning to open about 50 such outlets this year both as mega shop-in-shops within lifestyle department stores as well as standalone stores. Going forward we will also be looking to set up mini-malls in locations where there is a high footfalls of our target segment."
Speaking at the launch of the CSIA store, Sonakshi Sinha said, "The wide variety of Gitanjali brands at the new store will give passengers an opportunity to buy jewellery at the airport. This is the perfect place for them to pick up jewellery as gifts for family and friends."
Shirish Kotmire, Vice President - Commercial, MIAL, says, "If passengers are presented with a world-class shopping experience with emphasis on quality and value for money, they are open to spending time and shopping at CSIA. The opening of the Jewel Souk offers passengers a variety of jewellery brands across all price points, supported by international certification."
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