IndiaRetailBiz

Reliance Retail, which is spearheading the Rs. 25,000 crore retailing initiative of Reliance group, according to Bijou Kurien, its President & Chief executive - lifestyle, is looking at aggressively foraying into jewellery retailing.

“We are planning to set up about 400 to 500 jewellery retail outlets across the country, beginning with major metros,” said Kurien while talking to Financial Express. “For the purpose, we are in talks with gems and jewellery manufacturers and exporters in order to enter into tie-up with them for sourcing designer jewellery from them in sync with the trend in the national and international market. But, we will not enter into manufacturing jewellery,” he added.

Reliance Retail is negotiating tie-ups with jewellery majors like Gitanjali Group, Intercontinental Gems and Rosy Blue Group, to source jewellery products from them, says the report. These will be sold through branded jewellery outlets of Reliance Retail.

“Yes, we are in talks with Reliance Retail and we are planning to design a special jewellery collection for Reliance Retail as they have shown interest in sourcing jewellery from us for their exclusive jewellery retail oulets,” confirmed Mehul Choksi, chairman, Gitanjali Group.