Branded gold jewellery retailers seem to be on an expansion spree. This is despite high gold prices dampening demand in the last few months. About 90 percent of the market is dominated by unbranded single shop jewellers. Branded jewellers have decided to increase their market share by opening showrooms in smaller towns. Kerala-based Kalyan Jewellers intends opening three outlets at Rajkot, Vadodara and Surat at an investment of Rs 300 crore by the end of this fiscal. The 150-year-old Mumbai-based Tribhovandas Bhimji Zaveri has ventured east. Established players are spreading their wings into new markets; Nalli Silks aims to open a jewellery outlet at the 25 destinations where it has a presence. All that glitter is just another fresh business opportunity for the signage players too. Those engaging in in-store displays and other related activities would gain new business boost in this sector.
