Wealthy investors have been accumulating shares of Mumbai-based gems and jewellery firm Shrenuj & Company. The stock, which has risen 1% to Rs 50 on Monday, has gained close to 10% in a month on expectation of further rise the prices of polished diamonds. The buzz is that Shrenuj is planning to expand its branded retail jewellery business to over 100 outlets from about 30 outlets across the country in the next year or so.
The company plans to adopt a franchise model in Europe, while an own store model in India and China. The company has recently commenced operations in South Africa gaining access to high-quality rough diamonds from DTC Botswana, by acquiring a facility there. This is expected to result in direct access to high-quality rough diamonds from the mining source. When contacted, a senior company official said that the company has a large order book position, but declined to elaborate further.
Source:1 Jun 2010, 0119 hrs IST,ET Bureau,Contributed by Apurv Gupta, Shailesh Menon & Nishanth Vasudevan.
Tags:shrenuj,branded retail jewellery business, franchise model, jewellery franchise, franchising jewellery business,franchise jewelry brands.
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