Gitanjali expects Rs 800 cr biz at IIJS

Gitanjali Group today said it is expecting to double sales during the 5-day India International Jewellery Show (IIJS) starting on August 4, amounting to Rs 800 crore.

"We are planning to introduce four new brands during IIJS this year, which will help in boosting our sales and take it up to Rs 800 crore, compared to Rs 300 crore business we did last year," Gitanjali Gems Abhishek Gupta told PTI here.

The company will introduce Amore and G Divas in the affordable range and Maya Diamonds and G Solitaire in the premium to luxury category in IIJS to be concluded on August 8, 2011.

"We are expecting to generate Rs 100 crore from these four new brands in next three years," he said.     

Gitanjali Gems already has 20 domestic brands like NAKSHATRA, DESIRE, Giantti, D'Damas and 10 international brands under its portfolio which caters to every customer segments, their moods, behaviour and needs.

The company will also showcase the seven Italian brands like Stefan Hafner, Nouvelle Bague, PORRATI, IO SI Rosato, Calgaro and Valente Milano during IIJS.

On the back of the popularity of the existing brands and the freshness of the new ones, Gitanjali Group is expecting a 20% growth in value and 25% in volume, he said.

Talking about the overseas market, Gupta said, in FY11 the export and domestic ratio stood at 58:42, which will be 57:43 in FY12.

The exports will be almost similar to that of last year, he said adding that the company plans to further strengthen its presence in the existing markets like the US, Japan, China and the Middle East before foraying into any other geography.