Mehrasons Launches Franchise Format for Retailing Premium Diamond Jewellery Across India
Chandigarh based Mehrasons Jewellers has announced the company’s new premium jewelry format: Mehrasons Just Diamonds. This was launched by Ajay Mehra, Managing Director, Mehrasons Jewellers on August 20th.
Mehrasons will be the 22nd company to announce their franchise plans in the gems and jewelry segment. The Indian Retail industry is in a state of flux. The share of organized retail at present is only 3% of the total market and is expected to go up to 10% by the year 2015. In the days to come, traditional retailers in most industries will face intense competition. They will need to come up with alternatives for survival and growth. Indian jewellery market with a size of Rs.70,000 crore is also undergoing changes.
He stated that it has got a premium positioning and will cater to customers who prefer contemporary designs in diamond jewelry. The company has also taken the franchise route for expansion across the country and is scouting for the franchising partners to expand their footprints all over.
Mehra said, “The targeted states for the first phase of expansion include Punjab, Uttar Pradesh, Rajasthan, Karnataka and Tamil Nadu.”
“The new retail format will be the company’s first distinctive jewelry format which will specialize in just diamonds and diamond jewelry. It will cater to the latent demand for versatile, au courant pieces of Indian jewelry which appeal to all age brackets,” he mentioned.
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