India’s SRS Group Invests $12M to Launch Jewelry Unit

India-based property developer SRS Group announced plans to enter the jewelry retail market.

The company said it plans to open 10 exclusive jewelry stores in India this year under the brand SRS Jewels, investing INR 500 million ($11.76 million) in the project.

Sunil Jindal, managing director of SRS Group, said the company would aim to increase the number of SRS Jewels stores by 25 per year from 2009 onwards.

Jindal added the company was confident it would be able to find its niche in the organized jewelry retail segment.

“The SRS Jewels store offers a wide range of gracefully crafted Hallmarked jewelry that comprises 80 percent diamond and 20 percent gold,” the company explained.

SRS Group has business interests in real estate and township development, multiplex cinemas, organized retail, hospitality and aviation sectors.
Source: diamonds