RAPAPORT... Tribhovandas Bhimji Zaveri Ltd. (TBZ) has entered Vapi, the biggest city in the Valsad district of Gujarat, and opened its new outlet. The showroom is located at 7-11, Fortune Square Mall, Vapi Daman Road, Chala, Vapi.
The new store will cater to visitors from neighboring areas such as Daman and Diu, Dadra and Nagar Haveli, Umbergaon, Sarigam, Bhilad, Udavada, Sanjan, Pardi and Silvassa, amongst others.
“TBZ is maintaining the momentum of its retail expansion across key markets and the foray into Vapi is part of this strategy," said Shrikant Zaveri, the chairman of TBZ. "In Gujrat, having opened showrooms in Ahmedabad, Surat, Rajkot and Vadodara, I’m happy that TBZ – The Original is now open in Vapi.”
The stores showcase a range of classic and new jewelry designs for men and women. The jewelry retailer also offered a 50 percent discount on the ''making charges'' for diamond jewelry and the lowest 22-karat gold rates just for the opening occasion.
The company stated that the grand opening was timed to serve customers during the festive seasons such as Navratri Durga Puja, Dassehra, Diwali and the marriage season.
In the past six months, TBZ has opened five showrooms in the cities of Pune, Mumbai, Vadodara, Kolkata and now Vapi. The company now has 19 showrooms in 11 cities across India.
In April, TBZ raised approximately $36 million (INR 2 billion) through an initial public offering (IPO) to fund its expansion and for incremental working capital requirements, among other things. The company plans to open 43 showrooms by the end of fiscal year 2015.
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