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Jewelry houses opening stores to retain market share

Feb '07
With corporates like Pantaloons, Gitanjali Gems, Rajesh Exports getting into gold-jewellery retail sector in a big way, some Kolkata-based traditional jewellery-houses are expanding fast to retain market share and grow top-line.

MP Jewellers has opened five stores in Bardhaman, Durgapur, Behrampur, Guwahati, Silchar and is now looking to open more stores at Siliguri, Haldia, Cuttack, Jamshedpur and Ranchi for establishing future stores.

Senco Jewellers, another old-timer, has opened stores in seven district towns of the state since 2000 and intends to open three more in Tripura, Assam and Sikkim.

PC Chandra has opened branches in Siliguri, Malda, Bardhaman, Asansol and Midnapore during past two years, besides five in the city itself.

The company plans to open two stores in city with four more to come up in B cities, informed Prosanto Chandra, Deputy Managing Director, PC Chandra.

Gitanjali Gems, which is rolling out a national chain of stores, opened a World of D'damas store in February last year and is opening another in Durgapur next month.

Sales of jewelry are growing in smaller towns at 30-40 percent, compared to 25 percent in cities, said Manjunath Jyothinagar, President, Jewellery Business, Gitanjali Gems.

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