Tara Jew­els Ties Up With Fran­chise In­dia

Solitaire - - SPECTRUM -

Tara Jew­els Ltd. has signed an agree­ment with Fran­chise In­dia for their ex­pan­sion plans on a pan-In­dia ba­sis. Vikram Raizada, ex­ec­u­tive direc­tor & CEO – Re­tail, Tara Jew­els Ltd. said, “We are happy to col­lab­o­rate with them for our future goals and ob­jec­tives re­gard­ing ex­pan­sion. I be­lieve this will help us in grow­ing and be­com­ing a mar­ket leader.”

Af­ter a huge suc­cess in manufacturing and in­ter­na­tional re­tail, Tara Jew­els en­tered the jew­ellery re­tail space in In­dia in 2010 un­der the brand name, Tara Jewellers, an In­dian brand with an in­ter­na­tional ap­peal. The firm cur­rently op­er­ates 40 com­pany-owned and com­pany-man­aged re­tail out­lets across 32 cities in North, West and Cen­tral In­dia.

To fa­cil­i­tate fur­ther ex­pan­sion, Tara Jewellers in­tends to launch fran­chise out­lets with a min­i­mum in­vest­ment of 1,800 sq ft from fran­chise part­ners. With a re­turn of in­vest­ment of 21% Tara Jewellers show­cases its good­will and strength in the mar­ket.

“Fran­chise In­dia has been con­sis­tently help­ing brands across var­i­ous in­dus­tries with the right in­sights to help them ap­pro­pri­ately chan­nel­ize their ex­pan­sion across coun­tries. We and Tara share the com­mon vi­sion of ex­pand­ing at a fast pace by fran­chis­ing and Tara sure has a huge busi­ness scope,” com­mented Sonya Chowd­hary, direc­tor, Fran­chise In­dia Brands Limited.

For the quar­ter ended March 2014, Tara Jew­els re­ported a net profit of I5.64 crore on rev­enues of I502.30 crore.

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