Bandhan Jewels would work on a franchisee owned and operated model except the two model stores operating in Mumbai and Delhi.
Being Human Jewellery, Farah Khan Fine Jewellery, Kisna Diamond Jewellery and Rio Tinto Diamonds are joining hands to create a new retail format – Bandhan Jewels.
Bandhan will be a multi brand store for jewelry that would take off with two model shops in Delhi and Mumbai. Bandhan Jewels would work on a franchisee owned and operated model except the two model stores operating in the metros.
The model stores would be followed by franchisee stores in Bhopal, Bengaluru, Lucknow, Patna, Jabalpur, Hyderabad and Chandigarh.
“We intend to take branded jewelry to Tier II and Tier III cities so that it can be accessed by people across the country. Also it is an initiative to bring the mid-level jewelers struggling with branding to a platform and give them the technical know of advertising, branding and marketing ,” said Santosh Srivastava, president – sales and business development, Style Quotient Jewellery, which is one of the founder members of Bandhan Jewels.
The business model of Bandhan Jewels would have two options either to be a branded retail partner where the local jeweller takes up a Bandhan franchisee and sells his personal line through the brand or one can opt to become a privilege retail partner where one sells his own brand in the market as well as in the retail outlet of Bandhan.While initial investments of Rs 20 crore would be put in to establish Bandhan Jewels, a total of Rs 100 crore would be spent over the next three years in establishing the brand.