Sanchi, the silverware brand from MMTC Limited, a government of India enterprise, has opened two franchisee stores at East Punjabi Bagh and Connaught Place in New Delhi.
The showrooms will retail about 400 products from Sanchi including tableware, decorative pieces and items of religious significance.
According to the company’s chairman and managing director, Sanjiv Batra, MMTC has also tied up with National Institute of Design, Ahmedabad, to create new designs to meet the needs of the market.
Batra further informed that MMTC is planning to enter the jewellery retail market by tying up with a leading jewellery retail chain in India. It is also in the process of setting up a medallion unit and refinery for bullion near Sohna in Haryana. The unit is expected to be operational in the later part of 2009.
Earlier, Indiaretailing had reported about MMTC Limited planning to set up a chain of stores to retail gold jewellery and medallions. The company is looking to set up a joint venture with prospective companies to set up 16 retail shops all over the country.