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Tuesday, 3rd June 2008 (2521 views)

SRS Group has opened its first exclusively branded jewellery store in India as part of a long-term retail plan.

It hopes to have opened ten of the stores under its new SRS Jewels brand by the end of the year as part of the first phase of development, reports APU Newswire.

Some Rs 50 crore (£6 million) will be invested in the first year of expanding SRS Group's "retail repertoire", the firm suggested.

"We are confident that we will be able to carve a niche for ourselves in the organised jewellery retail segment," commented Sunil Jindal, managing director of SRS Group.

From 2009 onwards, SRS Group plans to open 25 stores annually, with Mr Jindal saying the firm wants to have retail space in "every major city and town across India".

India is the largest gold consumer in the world, according to statistics from the World Gold Council.

 

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