TBZ – The Orig­i­nal’s First Fran­chisee Store Opens In Jhark­hand

Solitaire - - SPECTRUM -

Jew­ellery re­tailer Trib­ho­van­das Bhimji Zaveri Lim­ited – The Orig­i­nal (TBZ) has signed its first fran­chise agree­ment for its up­com­ing store in Dhan­bad, Jhark­hand, that opened in early Novem­ber. This is the first fran­chisee store of TBZ.

The stores will be op­er­ated on a “fran­chisee owned, fran­chisee op­er­ated” (FOFO) model, en­tail­ing the en­tire store in­ven­tory to be on the books of the fran­chisee. This will help TBZ to scale up its do­mes­tic op­er­a­tions at a faster pace in an as­set-light man­ner with­out in­creas­ing its bal­ance sheet size, re­sult­ing in im­proved Re­turn on Cap­i­tal Em­ployed (ROCE) and Re­turn on Equity (ROE).

The fran­chisee stores will in­crease the mo­men­tum of retail ex­pan­sion across key mar­kets and reach out to var­i­ous com­mu­ni­ties in satel­lite town­ships, fol­low­ing suc­cess­ful launches in metro cities. This will help in adding in­cre­men­tal sales, ex­pand­ing re­tail­ing space and en­hanc­ing pan-In­dia pres­ence of TBZ.

Ac­cord­ing to Shrikant Zaveri, chair­man and man­ag­ing di­rec­tor, TBZ Lim­ited, “Ev­ery fran­chisee store will of­fer a wide ar­ray of in­no­va­tive and at­trac­tive jew­ellery de­signs with an added at­trac­tion of cus­tom-made prod­ucts. We will hand­hold our fran­chisee part­ners in the ini­tial stages to take them through the learn­ing curve of do­ing busi­ness with us and serv­ing cus­tomers the TBZ-The Orig­i­nal way. We in­tend to pace our­selves com­fort­ably through the process to en­sure we do not com­pro­mise in the qual­ity of TBZ-The Orig­i­nal ex­pe­ri­ence.”

With this new busi­ness strat­egy, TBZ will re­main fo­cused on growth and ex­pan­sion over the com­ing years. Go­ing for­ward, the store ex­pan­sion will be through a right mix of com­pany-owned and fran­chisee stores, help­ing the com­pany to achieve its tar­get of grow­ing its retail space from 93,000 sq ft cur­rently to around 1,50,000 sq ft over the com­ing 2-3 years.

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