Gitanjali to invest Rs 215 cr for retail expansion

Mumbai, Aug 5: India's leading integrated diamond and jwelleries manufacturer and retailer, Gitanjali Gems Ltd will invest about Rs 215 five crore (USD 50 mn) in next two years for its manufacturing and retail expansion in Tier-II and Tier-III cities.

The group is planning to open 150 new outlets in the cities across the country apart from Fridabad, Ahemdabad and Bangalore, Group Vice President, Commercial, Anuj Rakhia said at a conference here on Tuesday, Aug 4. The group also announced the name of Bollywood actress Katrina Kaif as brand ambassador for the endorsement of its diamond brand 'Nakshatra', replacing Aishwarya Rai, who was endorsing the product since 2004.

UNI