City-based jewellery chain Anjali Jewellers would spend Rs 100 crore to open virtual stores to strengthen its online retailing, a company official said.
According to a PTI report: The amount will be spent in phases till 2022, Anargha Chowdhury, Director of Anjali Jewellers said.
“We are planning to invest Rs 100 crore to open our virtual stores by 2022,” Chowdhury was quoted by PTI as saying.
The company is hoping to generate revenues of Rs 250 crore from online sales by that period.
Chowdhury said Anjali is eyeing the age group between 24-35 years as its target audience.
He said the youth are more inclined to shop online than offline, which has prompted Anjali to open virtual stores.