Mumbai-based real estate developer Vardhman Group has unveiled a full-fledged dedicated mall for jewellery in Mumbai. Branded Jewel World, the newly launched mall in Zaveri Bazaar, Mumbai is spread over 80,000 square feet and promises to change benchmarks in the Indian retailing industry, according to a company press release.
Rajesh Vardhan, managing director, Vardhman Group, said, “As Indians move up the value chain, large format retail combined with themed shopping environments will drive Indian retailing. This is the need that Jewel World seeks to fulfill. We believe that Whole Jewellery Retail (WJR) formats will change the dynamics of the retailing industry over the next five years.”
“While we have seen a large growth of modern retail formats so far there have been no specialised formats catering to specific needs. With Jewel World we look forward to changing the current norms in the retailing industry and our plans for this segment are very aggressive,” added Vardhan.
Jewel World has roped in prime tenants including Pranda, Dia Jewels, Al-Kans and Emralds and is looking to expand the format in the country over the next two years, added the release.
— IndiaRetailing Bureau