Latest news with #Sonawala
Economic Times
9 hours ago
- Business
- Economic Times
Zen Diamond looks to open 100 stores in India in 5 years
Diamond jewellery brand Zen Diamond plans to open 100 stores across India by 2030, especially in quality malls, a senior company executive has company has two stores in Mumbai, and has signed up for three more, two in the south and one in the north, taking the total to five by the end of this calendar year., according to the official. "We are looking at retail expansion in India. We are planning to have 100 stores across India in the next five years, initially in the major metros, followed by tier II cities," Zen Diamond India Managing Director Neil Sonawala told PTI. He said the stores will be located in quality malls, which already attract consumers and already have the presence of international brands. For its India presence, the company has already invested Rs 100 crore, funded through internal accruals, he said. "We plan to expand, at least up to 10-15 stores, through internal accrual. Post that, for 100 stores in India in the next five years, we will tap different channels for funding. Maybe it could also be a franchise or we could also have some other alternate funding arrangements. It's a bit premature to talk about that at this stage," he added. Currently, Zen Diamond has over 450 stores across 20 countries. Sonawala further said that Zen Diamond is launching an e-commerce platform and has also collaborated with Pernia's pop-up. "We are launching an e-commerce platform. So, we will also have a shop-in-shop in 4-5 Bernier outlets by the end of the year," he added. When asked about the jewellery designs, Sonawala said, the Zen Diamond stores in India will have 75-80 per cent of selected international designs. "But, of course, in India we also need to blend with the local culture and the local taste and preferences. So, 20 per cent of designs are also created in India and which are more on the Indo-Western line. We are on the modern, trendy, international side of designs, ranging from Rs 20,000 and going all the way up to Rs 15 lakh. Our focus is everyday wear, evening wear and gifting," he added. For this purpose, the company has set up a manufacturing unit in Mumbai with a capacity of producing 5 lakh jewellery pieces annually," he said. "We have a manufacturing unit in Mumbai. So, everything is made in India in our facilities. We have a capacity of close to 35,000-40,000 pieces a month. So, almost 500,000 pieces a year," he added. PTI
Time of India
10 hours ago
- Business
- Time of India
Zen Diamond looks to open 100 stores in India in 5 years
Diamond jewellery brand Zen Diamond plans to open 100 stores across India by 2030, especially in quality malls, a senior company executive has said. The company has two stores in Mumbai, and has signed up for three more, two in the south and one in the north, taking the total to five by the end of this calendar year., according to the official. "We are looking at retail expansion in India . We are planning to have 100 stores across India in the next five years, initially in the major metros, followed by tier II cities," Zen Diamond India Managing Director Neil Sonawala told PTI. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo He said the stores will be located in quality malls, which already attract consumers and already have the presence of international brands. For its India presence, the company has already invested Rs 100 crore, funded through internal accruals, he said. Live Events "We plan to expand, at least up to 10-15 stores, through internal accrual. Post that, for 100 stores in India in the next five years, we will tap different channels for funding. Maybe it could also be a franchise or we could also have some other alternate funding arrangements. It's a bit premature to talk about that at this stage," he added. Currently, Zen Diamond has over 450 stores across 20 countries. Sonawala further said that Zen Diamond is launching an e-commerce platform and has also collaborated with Pernia's pop-up. "We are launching an e-commerce platform. So, we will also have a shop-in-shop in 4-5 Bernier outlets by the end of the year," he added. When asked about the jewellery designs , Sonawala said, the Zen Diamond stores in India will have 75-80 per cent of selected international designs. "But, of course, in India we also need to blend with the local culture and the local taste and preferences. So, 20 per cent of designs are also created in India and which are more on the Indo-Western line. We are on the modern, trendy, international side of designs, ranging from Rs 20,000 and going all the way up to Rs 15 lakh. Our focus is everyday wear, evening wear and gifting," he added. For this purpose, the company has set up a manufacturing unit in Mumbai with a capacity of producing 5 lakh jewellery pieces annually," he said. "We have a manufacturing unit in Mumbai. So, everything is made in India in our facilities. We have a capacity of close to 35,000-40,000 pieces a month. So, almost 500,000 pieces a year," he added. PTI
