Damas India, which is owned by the Dubai-based Damas Jewellery LLC, plans to expand its retail footprints by setting up more than 21 boutiques across the country in the current fiscal. The company launched its first e-Store on Rediff and Indiatimes shopping, and is planning to open five more e-Stores on other e-commerce websites this fiscal.
“Damas India is targeting a turnover of Rs 100 crore in the current fiscal. We will open more than 21 stores across the country by the fiscal,” Anaggh Desai, CEO, Damas India, told Indiaretailing.com.
In the initial phase, Damas e-Store will sell diamond and gold jewellery specifically and will subsequently add watches, accessories and other lifestyle products as well.
“Currently, we are offering free shipping within India and EMI facility through Rediff and Indiatimes to our online customers. The customers can pay through credit card, cheque, or net banking,” Desai informed.
It is also learnt that the company is focusing on India’s golden markets like Mumbai, New Delhi, Kolkata, Kochi, Pune, Ahmedabad, Ludhiana, Amritsar, Vadodara, Surat and Lucknow to set up its jewellery stores.
The company already has a presence in cities like Mumbai, New Delhi, Pune, Ahmedabad, Bangalore, Kochi and Gurgaon. It is also available in select Shoppers’ Stop outlets across the country.
Damas globally has a network of more than 300 stores across four continents and sixteen countries including USA, Italy, Lebanon, Jordan, Maldives, Turkey, Egypt, India and all the GCC countries. Besides its own branded collections, Damas retails over 100 international brands of jewellery and watches.