Wednesday, 14th November 2007 (2826 views)

A new jewellery store in Bangalore is set to establish a presence across India, according to Indian news source NDTV Profit.com.

Reliance Retail's latest offering, jewellery business Reliance Jewel, will offer a selection of gold jewellery in its first shop, with plans for a second store to be unveiled in Hyderabad.

Following the two openings, the company plans to open more than 300 jewellery stores across the country, offering its wares at competitive prices.

"It is a huge market and we are targeting about ten per cent of that going forward," the company's business head and vice-president of jewellery, Ashok Kaul, told the news source.

"By 2010, we plan to overtake Tata's Tanishq, the largest organised player in this market now," he added.

According to the company's website, Reliance Retail is India's largest private sector enterprise.

Its activities include textile production, oil and gas exploration and retail and is reported to be the world's largest polyester yarn and fibre producer.

 

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