The newly formed JV between jewellery retailer Gitanjali Gems and Kuwait-based eyewear major Hassan’s Optician will invest around USD 2 million for its retail expansion across India.
As part of the plan, the JV will open over 200 stores across the country in the next two years , informed a top company official. Meanwhile, from Gitanjali’s side, the investment will be made by its subsidiary Gitanjali Lifestyle.
The 50:50 JV between the groups was signed early this month. It will retail all Hassan’s Optician products through its stores in India.
— IndiaRetailing Bureau