June 12, 2008 (India)
Fine Jewellery India Ltd (FJIL) is planning for a enormous expansion within next three years. The Mumbai based diamond jewellery exporter aims to open new retail outlets across nation along with enhancing the manufacturing capacity to strengthen its position in domestic market.
Fine jewellery sells its in-house lifestyle brand ‘Nirvana’ through large format stores that are spread in 27 cities nation wide, it also has an exclusive stand-alone store in Mumbai.
In an exclusive interview with Fibre2fashion, Mr Sohil Kothari, Director, Fine Jewellery Group asserted, “We plan to set up around 30 NIRVANA exclusive stores in 10 major towns and cities in the next three years. To support this expansion as well as increase manufacturing capacity, we have drawn up a capital expenditure plan that will require nearly US $25 million.
Mr Sohil further divulged, “We propose to raise funds through private equity in the next six months for our famous brand Nirvana, which mainly targets age group of 25 to 45 years. It is a delicate daily wear jewellery, for design conscious young generation.
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