Suwarnsparsh plans pan-India expansion with 20 outlets in 5 cities

Suwarnsparsh Gems and Jewellery is planning its pan-India presence by opening 20 new outlets in five cities, viz. Delhi, Kolkata, Hyderabad, Chennai and Ludhiana by the next financial year. Expansion of these outlets would entail an investment of around Rs 12-14 crore including the inventory in these stores and would be funded via a mix of debt and internal accruals. Established in 2009, Suwarnsparsh retails 1-gram jewellery and astro-gems so far through its 65-odd outlets mostly in Maharashtra. The company expects to conclude the financial year March 2015 with revenue of Rs 62 crore compared to Rs 49 crore in the previous year. Such boost in the retail sector with the launch of new flagship stores from leading retail giants will be an added business opportunity for the signage companies dealing in-shop designs, displays and related job.