Rajesh Exports Ltd, one of India’s top jewellery makers and exporters, plans to open 300 retail stores in India over the next three years, and has lined up a capex of 30-40 billion rupees, a top official said.
The firm currently has 25 retail outlets countrywide.
“Within the next three years in India we are planning to open about 300 stores and by the end of this financial year we should be in a position to open 80-100 stores,” Rajesh Mehta, chairman and managing director, told Reuters in an interview on Monday.
Mehta also plans to expand retail operations overseas with showrooms in the Middle East, Far East, U.S. and parts of Europe including the U.K. and France.
The firm is also in advanced talks with Australian and South African firms to acquire gold refineries and mines, and is likely to close some deals over the next 3-4 months, he added.
Earlier in the day, Rajesh Exports told stock exchagnes its current order book stood at over 46 billion rupees.
At 2.55 p.m., shares of the firm were up 0.7 percent at 129.6 rupees in a firm Mumbai market.