“We are looking to set up at least 50 Laabh stores in Southeast Asia, West Asia, Europe and the United States by next year,” Rajesh Mehta, chairman, Rajesh Exports, told Indiaretailing. The company’s Shubh chain of stores is set to take off in five months in South India.
The Bangalore-based jewellery exporter entered domestic retailing last year with the Laabh chain of stores. Currently, it has around 30 stores across the country. “By March next year, we will have 100 stores,” Mehta added. Also, the first few standalone outlets of OyzterBay (which Rajesh Exports acquired last year) will come up by December.
Apart from exports to wholesalers and bulk consumers, Rajesh Exports now supplies to retailers directly. It is selling jewellery to three chain stores in the United States, the United Kingdom and Germany. Mehta, however, did not disclose the names of these chain stores.
Rajesh Exports is also set to launch its own brand of diamond jewellery for the international market – under a new brand name with a Made in India tag.
– Bangalore Bureau