Rajesh Exports unveils Laabh retail outlets' chain

Bangalore, Jan 16: Leading jewellery exporter, Rajesh Exports Limited (REL) today unveiled a national Jain of retail outlets in the brand name ''Laabh''.

With annual sales of over Rs.6,000 crore, REL would initially roll out 30 Laabh stores in 23 cities across the country with 3000 jewellery designs, 700 diamond designs besides gold coins, REL Chairman Rajesh Mehta told newsmen here. Laabh would subsequently expand to tier two cities in the next round of expansion, he said.

The launch of Laabh was to ensure that the company sold guaranteed purity in the best of the jewellery designs with acceptble prices.

Mr Vipin Sharma, CEO of Laabh Jewellers said that the chain would herald a new revolution in retail sales of gold jewellery whose current market in the country was around Rs,75,000 crore per year.

The jewellery market was fragmented and not even a single major branded jeweller had a share of one per cent. Over 500,000 retailers were present across the country.

He said besides catering to the high end design, Laabh would cater to mainstream market in both urban and rural areas besides holding out latest trends to the aspiring youth.

UNI