The Rs 3,500 crore Gitanjali Group plans to position Nakshatra as a jewellery and lifestyle brand worldwide, and expect sales worth Rs 1,000 crore by next five years. The company will also launch diamond-studded shoes, handbags and accessories under its recently acquired brand Nakshatra.
“Our subsidiary company, Gitanjali Lifestyle Ltd, has recently launched ‘Greggio’ branded exclusive store of silver jewellery in New Delhi. The company plans to set up at least 100 such stores in India in the next 2-3 years time. Meanwhile, we will also focus at the lifestyle segment by launching new brands in jewellery, fashion apparel and watch segments in this fiscal,” a company spokesperson told Indiaretailing.
Recently, the company signed an exclusive distribution agreement with Noraletto (a watch brand from Italy) for selling it in the Indian market. Meanwhile, the company is also planning to set up 25 shop-in-shops for the Noraletto watches in premium retail outlets in tier I cities across the country in the next six months. Besides, the company will set up Marielle Vurhani (apparel brand from Italy) shop-in-shops as well.
Gitanjali Lifestyle has firmed up plans to set up 3,000 square feet exclusive brand showroom of World of Solitaire in New Delhi and Chennai.
– Vishnu Rageev R, Bengaluru Bureau
