Tara Jewels Ties Up With Franchise India
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.